Black Friday marks the unofficial start of holiday shopping. But this season, residents of Pennsylvania will also have the chance to shop for a new electricity supplier. The first day consumers can switch to a new power source is Jan. 1, but some have already started browsing.
Rate caps are coming off. That means electricity bills will go up. But it also means residents can choose suppliers that may save them money. And fliers have begun to arrive in mailboxes across the state from power companies touting their services.
Jennifer Kocher, a spokespwoman for the state’s Public Utility Commission, said the new companies are offering a break on the Peco price.
“The price to compare for Peco is 9.92¢ per kilowatt hour so that’s kind of the magic number,” said Kocher. “Anything below that can save you money. Anything above that that’s offering a green product is also an option.”
Kocher said some companies are offering a penny less than the PECO rate, which could mean a savings of $50 to $200 a year depending on electricity use. But she warns shoppers to make sure the companies have the approval of the Pennsylvania’s Public Utility Commission.
If customers do switch, Peco would continue to deliver the electricity and service their accounts. Once consumers decide to make a switch it could take two to six weeks for the transfer to take place.