In February the Pennsylvania electricity choice market, one of the most active deregulated power markets in the country, saw its participating customer count surpass two million. This means that over two million electricity consumers in Pennsylvania are now buying power from a competitive supplier and not their local incumbent electric utility.
The milestone is significant as it shows that over 35% of all Pennsylvania electricity customers, both residential and commercial, are educated about energy choice and are taking the required time to shop for competitive electric rates in order to save money and lower their Pennsylvania electric bills. Over 45% of commercial customers and 35% of residential customers are currently buying their electric supply from competitive power companies.
The number of active electric choice customers may increase substantially over the next few months as the state’s largest utility, PECO Energy, gets ready to increase their residential “price to compare” default rates by more than ten percent. Currently about 69% of PECO residential customers are paying the high default rate for electricity generation and transmission. The increase should encourage many of those consumers to shop and compare lower electric rates being offered by competitive Pennsylvania electricity companies (see below) that are showing savings as high as sixteen percent.