Met ed electric is the utility that provides electricity to half a million people across southeastern Pennsylvania. Like other energy companies, they offer many different rate structures to meet the needs of their customers. This article breaks down the rates they offer and what they mean for your energy costs.
In a nutshell, met ed electric rates include distribution charges and supply charges. The distribution charges are the fees that Met Ed has to pay to maintain their power lines and respond to outages. These are the same whether you choose a supplier or not. The supply charges are what you pay for the electricity that is consumed. In the era of deregulation, PA residents are now able to shop for alternative electric suppliers that offer lower prices than the default utility rate. These are called retail electricity suppliers.
Met-Ed Electric: Powering Pennsylvania Communities with Reliability and Excellence
The price of power is set in an auction held by the Public Utility Commission 4 times per year. This process is known as the PTC, or Price to Compare auction. The winning bids are then negotiated with the generators to determine the price of power that will be sold by the utilities.
On June 1, most EDCs, including Met Ed, will raise their default service rate for residential and small business customers who have not chosen an alternative supplier. This is a great time to check out the available rates from various providers and start saving today. You may be surprised at how much you can save!