PPL Electric reaches agreement that would lower customers’ bills
PPL Electric Utilities, a subsidiary of PPL Corp., is looking to lower its rates for Pennsylvania customers starting Dec. 1.
The company, which serves more than 1.4 million customers in Pennsylvania, reached an agreement with a group of its industrial and municipal customers that would reset the base return on equity for PPL Electric’s transmission formula rate from 11.18 percent to 9.9 percent. This, in turn, would save the typical residential customer about $1.54 and the typical business customer about $2.15 per month over a 12-month period, starting Dec. 1. The rate change is subject to approval by the Federal Energy Regulatory Commission.
“We’re committed to keeping the lights on for customers at a reasonable cost,” PPL Electric President Steph Raymond said. “Because of our forward-thinking investments, we have one of the most reliable grids, and our customers continue to pay below the average rate for the mid-Atlantic region.”
The transmission rate is a component of the supply charge listed on customers’ bills. So, with the reduction in the transmission rate, the savings are passed on to customers who choose PPL’s Price to Compare service. Customers who have chosen an energy supplier are encouraged to contact their supplier to confirm that the lower transmission rate will be reflected in their bill.
