Penelec customers to see prices drop
Penelec customers will see a significant decrease in their price of electricity beginning Monday.
The residential rate for electricity will decrease from 9.28 cents per kilowatt hour to 7.05 cents per kilowatt hour, said
spokesman Scott Surgeoner
of FirstEnergy Corp., Penelec’s parent company.
The average residential customer who uses 750 kilowatt hours per month will see his bill decrease from from $109.61 to $92.93, a decrease of 15.2 percent.
“We saw such an increase in the June price to compare because the time when we were required to buy electricity was during the polar vortex in January. That impact is not factored into the September bill. That is a big part of the reduction,” Surgeoner said.
When electricity caps expired Dec. 31, 2010, Penelec increased the rate from 5.7 cents to 7.03 cents per kilowatt hour for residential customers.
The rate, which Penelec calls its price to compare, has fluctuated since that time.
The company updates prices quarterly to minimize spikes and deep valleys.
For the Altoona area, there are 27 providers in addition to Penelec. The other providers’ rates for the area, according to PAPowerSwitch.com, range from Stream Energy at 6.98 cents per kilowatt hour (fixed rate for three months) to Starion Energy Pa. Inc. at 21.97 cents per kilowatt hour (variable rate).
To date, more than 2.1 million Pennsylvanians have switched electric suppliers.
“We still encourage people to go to PAPower-Switch.com to see what is available. If you do you need to make sure you are aware of the terms whether it is a fixed rate or a variable rate and the length of the contract,” Surgeoner said.