PHILADELPHIA (WPVI) — Energy prices continue to rise, and PECO is proposing a rate increase next year. If you’re looking to save on electricity or natural gas costs, consider switching to a third-party energy supplier.
Energy bills include two main components: supply and distribution, also known as delivery.
While utilities like PECO handle distribution, customers are allowed to choose their own third-party supplier for the supply portion – a move that can result in savings of up to 30 percent.
Pennsylvania, New Jersey, and Delaware host official websites where residents can compare energy plans and shop among available suppliers.
In Pennsylvania, consumers can use PAPowerSwitch.com to review options.
New Jersey residents can compare plans at nj.gov/njpowerswitch, while Delaware customers can visit depowerchoice.com.
“Every penny counts as energy prices go up,” said Dan McCunney of NRG Energy. “Even 3 to 5 percent can make a real difference. For a lot of people, that’s enough to make the switch.”
McCunney said the process is simple.
“It’s real easy,” he said. “You go on PAPowerSwitch.com if you’re in Pennsylvania, and there are like sites for New Jersey and Delaware as well.”
On PAPowerSwitch.com, consumers enter their ZIP code to see a comparison page that includes their current “price to compare.” For PECO Energy customers, that rate is 11 cents per kilowatt hour. Shoppers can then select how long they want their plan to last, known as the term length.
Some consumers regularly review and change plans to maximize savings.
“They can switch their plan every three months or six months, or whatever it might be, because they want to make sure they’re getting the most savings out of their electricity and natural gas,” McCunney said.
Users can narrow results by setting a maximum price per kilowatt hour below their current rate. Fixed-rate plans are often recommended so prices remain stable.
Consumers can also filter for plans with no cancellation fees, enrollment fees or monthly fees, and choose long-term pricing rather than introductory or new customer rates. Do make sure you read the fine print!
Available supplier offers appear as you select your filters.
McCunney says once you choose a new supplier, the switch occurs “usually within the next billing cycle.”
Action News searched for a new supplier in zip code 19015 and found great potential savings. Under a fixed, three-month plan, an estimated monthly bill drops from $77.17 with PECO as the supplier to $55.23 with a third-party supplier, a savings of nearly $22 per month, with no additional fees.
Once a new supplier is selected, McCunney said the switch typically takes place within the next billing cycle, with no interruption in service.
Action News tested the process using ZIP code 19015 and found potential savings. Under a fixed, three-month plan, an estimated monthly bill drops from $77.17 with PECO as the supplier to $55.23 with a third-party provider – a savings of nearly $22 per month with no additional fees.
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