To offer its largest industrial customers incentives to decrease, increase, or shift their electricity use as market prices for electricity fluctuate, PPL Electric Utilities is introducing a demand-side rate initiative on June 1.
The company, which supplies energy to 1.3 million customers in eastern and central Pennsylvania, believes that its new rate option can help minimize spikes in wholesale electricity prices, encourage greater competition in the electricity market, and further enhance the reliability of electricity supply in the mid-Atlantic region.
If customers reduce electricity usage from their normal level during periods of high electricity prices, they qualify for a credit on the energy supply portion of their electric bill. If they use more electricity during high-price periods, they pay a premium.
The rate option covers only the energy supply portion of customers’ electric bills. All other charges—such as distribution and transmission—continue at existing PPL rates.
For more information, contact PPL.
