PPL Electric Utilities Price to Compare Rate 2022
By Jane George, Regional Affairs Director, PPL Electric Utilities
PPL EU recently completed an energy auction and the new Price to Compare (PTC), effective June 1, will be 12.366 cents/kWh for residential customers (up from 8.941cents/kWh) and 11.695 cents/kWh for small business customers (up from /9.675cents/kWh). The increase is due to several market conditions that are impacting most sectors of the economy such as the rising cost of energy supply sources, including natural gas, as well as overall inflation and global economic events. A residential customer who is receiving default service – and paying the new price to compare – will see the price of his or her electricity supply increase by about $34 per month. This is based on average use of 1,000 kWh of electricity per month. The average small business customer using the same 1,000 kWh per month will see an increase of about $20.
We filed this price to compare change with the PUC on Monday, May 2. Over the next month, we will be reaching out directly to customers who are receiving default supply to let them know this price increase will impact their bills. Our goal is to give our customers time to prepare and share steps they can take to lessen the impact. We will remind customers that PPL doesn’t own the power plants where the energy is generated and encourage them to shop for an electricity supplier. PPL offers numerous bill assistance programs and tools available to help customers who are having trouble keeping up with their electric bills, including:
- Low Income Home Energy Assistance Program (LIHEAP) — a federal program that provides grants to households to help with home energy bills or to pay off past-due balances. LIHEAP applications are being accepted through May 20, 2022.
- OnTrack payment plan — a program that makes managing energy bills easier with lower fixed monthly payments and debt forgiveness for qualifying customers.
- Operation HELP — a fuel fund supported by donations from PPL Electric Utilities employees and customers that provides grants to help customers with their energy bills.
- WRAP — a program that offers free energy-efficiency products, such as LED bulbs, to customers.
- Emergency Rental Assistance Program (ERAP) — a federal program that helps renters affected by financial hardships during the COVID-19 pandemic with free money to cover rent, utility bills, fees, and past-due balances.
- All customers, regardless of income, can also take advantage of other bill help services, including budget billing or choosing a payment due date that works for their budget.
To help our customers through this inflationary period, our PPL Foundation is donating $500,000 to Operation HELP. Operation HELP provides grants to help eligible customers pay their heating bills. This contribution will supplement the more than $1 million that our company, employees, and customers donate each year to support Operation HELP.