By Tim Jimenez
PHILADELPHIA (CBS) – PECO customers will be paying more for their electric bills starting next month.
Pennsylvania utilities are required to adjust supply charges every quarter says PECO spokeswoman Cathy Engel-Menendez.
“Adjusted based on any changes, increases or decreases in commodity costs. It also reflects any over or under collections from the utility from usually two quarters previous.”
Since October kicks off a new quarter, there will be a 21.5 percent increase in price per kilowatt hour. A jump from 8.64 cents to 10.5 cents.
But a reminder, if you are part of the 30 percent of PECO customers who switched electricity suppliers, this change doesn’t affect you. And PECO still suggests you shop around, adds Engel-Menendez.
“Look at their price per kilowatt hour from PECO and compare that to offers from other suppliers because they do have the potential to save money.”
As for next quarter projections; Menendez says they expect the rate to drop below 9 cents.