How many times do you have a guaranteed way to save $300 per year with one phone or web contact? Not often. But electricity competition is offering savings up to $300 to residential electricity customers of Duquesne Light, the electric utility serving the Pittsburgh region.
Here's the math. Current regular residential customers of Duquesne Light are paying $69.23/month for electricity generation or 9.89 cents per kilowatt-hour. There are 26 companies competing for their business.
To name just three, Direct Energy will provide the same service for $51.80/month; First Energy for $44.45; and Just Energy for $43.75/month. Monthly savings can exceed $25. These real bargains are partially the result of sharply lower natural gas prices that have yielded greatly reduced wholesale electricity prices during 2012 that competitive suppliers are now passing through to retail customers.
Indeed, electricity generation prices offered by competitive suppliers in the Pittsburgh region are about 2 cents per kilowatt-hour or 25% lower in nominal dollars and 70% lower in constant or inflation adjusted dollars than what Duquesne Light charged for generation in 1996, the year Pennsylvania enacted the Electricity Competition and Customer Choice Act.
In the Pittsburgh region, customers can also switch to 100% Pennsylvania wind power supplied by Community Energy and save money, compared to staying a generation customer of Duquesne Light.
Customers in nearly all parts of Pennsylvania can save money by shopping for electricity or purchase green power. It's easy to do and more than 1.86 million Pennsylvania electricity customers have done it. To go power shopping, take a look at www.papowerswitch.com and at www.choosepawind.com.