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Pennsylvania Utility's Residential Default Service Rate To Be 1.7¢ Per kWh (44% Decline)
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Pike County Light & Power Company has filed with the Pennsylvania PUC electric default service rates for the three-month period beginning March 1, 2020
For residential customers, the March 1, 2020 default service charge is to be 1.6910¢ per kWh, a 44% decline from the current rate of 3.0110¢ per kWh
Low wholesale market prices for electricity, plus the application of a reconciliation (refund) of prior over-collections, capped at 2¢ per kWh, have led to the residential default service rates under 2¢ per kWh
Due to the cap on reconciliations, residential over-collections continue, resulting in the need for continued reconciliations
Absent the 2¢ per kWh cap, the residential class would be due a default service reconciliation refund amount (credit) of 4.2652¢/kWh, which once again exceeds the market price of electric supply for the quarter (which is 3.6910¢ per kWh)
Pike's filed default service rates are as follows:
Rates remain subject to PUC approval
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February 18, 2020
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Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
March 1, 2020 through May 31, 2020
(¢/kWh)
Market Reconciliation Total
Price Rate
Residential 3.6910 (2.0000) 1.6910
GS Secondary 3.6540 (2.0000) 1.6540
GS Primary 3.6570 (2.0000) 1.6570
Municipal SL 2.6010 (0.2169) 2.3841
Private Light. 2.5090 0.2366 2.7456
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