State regulators are warning people in Pennsylvania to prepare for "sticker shock" starting on Dec. 1 with prices set to jump as much as 50%.
The Pennsylvania Public Utility Commission (PUC) says that most utilities will be adjusting their prices for electricity generation with potentially large winter energy cost increases in some areas.
"The upcoming price changes, combined with falling temperatures, make this an important time for consumers and businesses to evaluate their energy options and explore ways to save money and energy in the coming months," the PUC chairman said in a statement. "We encourage consumers to carefully review their electric bills, understand the energy prices they will be paying."
Pike County Light & Power is expected to have the biggest price increase with the cost of a kWh rising 50.2%. On the other hand, Penn Power is actually lowering its price from 7.657 cents to 7.593 cents per kWh.
The state allows customers to shop for their electricity provider and they are encouraging people to check PAPowerSwitch.com to see if they can save money.
The PUC adds that the commission does not regulate prices for the generation portion of electric bills. For those customers that do not shop, electric utilities obtain default generation service using a procurement process overseen by the PUC – the electric utility in effect "shops" for the customer.
Generation prices are separate from the closely regulated rates that utilities charge for their distribution services – the delivery of electricity to homes and businesses.