The start of March brings a new quarterly rate adjustment for Penelec customers, and it’s good news: residential rates are going down, from 7.12 cents to 5.05 cents per kilowatt hour. That will drop the average residential customer’s monthly bill from $107.36 to $99.30, based on 750 kilowatt hours used.
Penelec says the mild winter has kept the demand for natural gas low, which has in turn continued a years-long depression in the price of gas. The new rate reflects the cost of generating electricity, which Penelec calls the ‘price to compare” when considering which electric supplier you prefer. The transmission rate, which pays for maintenance of equipment and power lines, remains unchanged.
