YORK—Since rate caps expired, both electric customers and companies are doing business differently. Many people are shopping around for better prices, looking to save some cash.
The idea of shopping for a power supplier isn't new. The Electric Choice program has been around since 1999. But when rate caps expired and PPL announced they were raising rates by 30 percent, people went looking for other answers. It's something the company says should be happening.
In the five months since electric rate caps expired, many power companies have seen a change in the way customers do business. Some customers starting to think about the different choices offered by other power suppliers.
"I guess it's probably something I need to sit down and think about what my choices are," said Bill Rodgers, PPL customer
PPL reports, since January, it has lost 421,000 of the 1.4 million customers it supplied power too. After rate caps expired, the company raised prices by 30 percent. So people started shopping, finding better deals elsewhere.
One would think that would be a big deal to a company. But that is exactly what the company says should be happening.
"We highly encourage customers to shop, shop, shop because that's what the competition bill is all about," said Jim Nulton with PPL.
In Pennsylvania, it's illegal for companies like PPL to make money on supplying electricity. They make money on delivering power. So, if customers are switching simply to prove a point to their power company, the point is moot.
To compare pricing, you are going to want to check your power supplier for the compare number. For PPL that number is set at 10.4 cents per kilowatt hour. Comparatively speaking, that is higher then two other companies, meaning you could save some cash if you decide to switch.
On average, new companies have offered energy supply prices at 5 to 12 percent lower then PPL. However, you have to check your area to make sure that other companies are offering service.
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