With the continuing trend of lower market prices for power, the utility will likely be passing along a lower rate for its generation service to residential and small business customers who receive power supply from it, effective January 1, 2011. However, the actual rate will not be known until December after additional purchases are made later this year.
As an energy delivery company, PPL Electric buys power from the wholesale market for its customers who do not select a competitive electric supplier. The company now has secured approximately 80% of its power supply from a total of 16 companies for the first five months of 2011.
David DeCampli, president of PPL Electric, said: “Based on the fact that the price of 2011 power purchases made to date is below what we are currently paying, we believe our generation service charge may be 9%-12% lower than the current rate, which is 10.133 cents per kWh for residential customers and 10.125 cents per kWh for small commercial and industrial customers.”
