Small and medium-sized business customers will see electric rates increase starting March 1 at the three FirstEnergy utilities in Pennsylvania, including Pennsylvania Power (Penn Power), Metropolitan Edison (Met-Ed) and Pennsylvania Electric (Penelec), if they do not choose to buy their electric supply from a competing electric supplier.
The electric rate hikes range from 10-18%, depending on the FirstEnergy utility area. The three service areas cover the majority of the state, from the outer Philadelphia region all the way west to Erie.
At Met-Ed, rates for small and mid-sized businesses, including Rates GS-Small and GS-Medium, will increase about 10% to 8.983 cents per kWh.
At Penn Power, rates for small and mid-sized businesses, including Rates GS and GSM, will increase 18% to 6.266 cents per kWh.
Pennsylvania businesses who buy their power supply from their utility, instead of choosing a lower-cost energy supplier, will pay these higher rates. Worse, the utilities’ electric rates will continue to change every three months, exposing businesses to rate volatility and depriving them of budget certainty in planning their business.
Businesses can avoid these rate hikes by finding a lower electric rate on SaveOnEnergy.com. Only through SaveOnEnergy.com’s exclusive exchange portal can businesses get up to eight vetted Pennsylvania energy suppliers to compete for their business. This direct, head-to-head competition among electric suppliers drives prices down, and produces savings for businesses, helping reduce their costs and overhead.
The best part is saving money with SaveOnEnergy.com takes just a few seconds, and businesses just need to enter some quick information about their electric bill, and the information is instantly transmitted to competing energy suppliers. The suppliers then contact the customer directly with their best rates, with no middleman, taking the hassle out of finding the lowest electric rate.