There’s no time like the present for PECO utility area customers to shop around around for their energy.
Why? FirstEnergy Solutions just announced that they are no longer renewing or accepting new electricity plans for PECO customers.
This means that after your contract ends, you’ll be transitioned to the PECO default rate which might be higher than your current FirstEnergy rate.
- FirstEnergy will fulfill the contracts they already have with PECO customers, but they will not provide the option to renew.
- FirstEnergy will waive the early termination fee if PECO customers decide to switch to a new supplier before the end of their current plan.
- If PECO customers decide not to switch to a new supplier before the end of their current plan, they will be transitioned to the PECO default rate.
- The PECO default rate is fixed, which means it will stay the same for three months at a time. This rate is currently 8.49 cents per kWh and will also change again on December 1 to 8.33 cents per kWh.
What can PECO customers do?
Because the PECO rate is currently higher than many competitive suppliers, it’s best to investigate your options for a new supplier as soon as possible.
Check out the plans available to PECO customers in the PECO service area and sign up for your new plan before your current plan is over. AEP Energy, TriEagle Energy, North American Power, Frontier Utilities, Spark Energy, Constellation Energy, XOOM Energy all offer plans that allow you to lock in a rate lower than the PECO default rate (even after it decreases in December) for at least 6 months.
The sooner you switch the better your savings will be.
When you get official confirmation that you have successfully switched to a new plan, be sure to ask when your official contract date is so you can mark it on your calendar to renew or switch again.