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MarketScreener Homepage  >  Equities  >  Nyse  >  PPL Corporation    PPL

PPL CORPORATION

(PPL)
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PPL : Electric Utilities posts updated price to compare

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05/01/2020 | 01:24pm EDT

ALLENTOWN, Pa. (May 1, 2020) - PPL Electric Utilities customers who don't shop for their electricity supply will see a drop in the price of that supply starting June 1, 2020.

The new price to compare affects only the energy portion of electric bills for non-shoppers, not the delivery portion. About 60 percent of PPL's 1.4 million customers don't shop for electricity from a competitive supplier.

Effective June 1, the new price to compare for residential customers will be 7.284 cents per kilowatt-hour (kWh), down from the current 7.632 cents per kWh. The new price to compare for small business customers will be 6.079 cents per kilowatt-hour, down from the current 6.360 cents per kWh.

That means a non-shopping residential customer using 1,000 kWh per month will see their price for electricity supply drop from $76.32 to $72.84 per month, a savings of $3.48. A non-shopping small business customer using the same 1,000 kWh per month will see their supply charge drop from $63.60 per month to $60.79, a savings of $2.81.

'The price to compare is an important reference point for our customers,' said Greg Dudkin, president of PPL Electric Utilities. 'These are tough times, and it's important for customers to look for every opportunity to save money. Smart shopping is one way to do that.'

For information about shopping for electric supply, visit the Pennsylvania Public Utility Commission's website, PAPowerSwitch.com, or PPL Electric Utilities' website at pplelectric.com/shopping.

About the price to compare

Customers who don't shop for an electricity supplier automatically receive PPL Electric Utilities' default service. PPL Electric Utilities holds energy auctions to purchase power on their behalf at market prices - this is known as the price to compare.

The price to compare reflects the cost of those power purchases and adjustments based on customer use in the prior period. PPL Electric Utilities updates the price to compare every six months, on June 1 and Dec. 1. The generation rate for large industrial customers is based on hourly market prices.

PPL Electric Utilities provides electric delivery service to more than 1.4 million homes and businesses in Pennsylvania and ranks among the best utility companies in the country for customer service and reliability. PPL Electric Utilities is a major employer in the communities it serves. It is a subsidiary of PPL Corporation (NYSE: PPL). For more information visit www.pplelectric.com.

# # #

Note to Editors: Visit our media website at www.pplnewsroom.com.

Disclaimer

PPL Corporation published this content on 01 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 May 2020 17:23:02 UTC

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Sales 2020 8 015 M - -
Net income 2020 1 871 M - -
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