The PECO Rate Increase Is Happening Whether Or Not You Like It - Here's What To Know

The PECO Rate Increase Is Happening Whether Or Not You Like It - Here's What To Know

I'm sure you have already heard about this, but in the case you haven't, the utility company PECO, will be raising their rates at the start of 2011. I felt compelled to write this article to explain why this is happening and how you as a customer can avoid paying too much.

Why Customers Will See The Increase...

PA is one of the 17 states in the U.S. to deregulate. The output of energy deregulation in the marketplace is fair competition. For most of this century and still today in some states, local utility companies served as the only way to get power to your home, thus making them a monopoly. This means that whatever the utility company is charging, you as the customer are forced to pay. If you are a PECO customer, then you understand that up until 2011, you had to pay what PECO charged on your bill.

This 'cap' that you probably have been hearing about was placed on the PECO utility by the state in 1998, and told PECO what they could charge for generation. At the start of 2011, that same cap will expire, and PECO will have the ability to increase the supply portion of your bill. If you go and grab a recent copy of your bill you will notice this as a 'Generation Charge.' Fortunately...

You Can Make A Choice!

When the rate cap expires you will have a choice as to where you buy your electricity supply from.

What's Your Next Course Of Action?

If you wait until next year just to "see what happens," it is guaranteed that you will be paying the increased rate if you choose to default and stay with PECO. For goodness sakes, even PECO's president, Denis O'Brien, is telling customers to search for a better deal with other suppliers. You may have seen this quote from Mr. O'Brien in the Philadelphia Inquirer, "With deregulation, people should be shopping for their electricity. If not, PECO becomes the default provider."

You're probably wondering which energy supplier should you choose. And I don't blame you for being concerned; there are dozens of new suppliers popping up every other week telling you that they have the lowest rates and making an intelligent and informed decision may be difficult. It's funny, some new suppliers are giving away gift cards to get your attention. You'll want to be very weary of most new energy suppliers. The majority of suppliers will not be around in 5 years because they simply don't care about the customer and are more concerned with profit margins. The energy supplier I represent that is now available to PECO customers is called North American Power. North American Power is saving PECO customers approximately 10% on their electric bill when they decide to switch. What makes this so attractive?

There are no contracts to sign, no cost to switch and absolutely no cost to cancel in the future.

Every aspect you have known from PECO's standpoint will remain the same. The difference will be a line item - listed as a 'Generation Charge' from North American Power.

You'll not only get a very stable rate when you switch, but you can cancel at anytime. There is absolutely ZERO risk for you. Because our company has extensive experience in the energy industry, you can always know that the rate we charge is lower than PECO. 70,000 customers in under one year doens't lie!

If you would like to see how much you could be saving right now please visit: www.LowerYourPecoBill.com

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