Finding The Best Philadelphia Power Supplier for You!

In recent years, Philadelphia electricity prices have gone up. This is why this is the perfect time to seek a new Philadelphia electric company and to check out some new energy and natural gas rates. As Philadelphia electricity rates are diverse, with every electric supplier offering several energy plan options in this deregulated energy market, it is important to shop wisely and to make an informed decision on your next energy plan. Read on to learn more so you can help yourself choose a new plan that can save money and energy for you. 

Electricity Rates In Philadelphia 

If you live in Philadelphia or plan to move here, you should know that Pennsylvania electricity rates are very low. However, choosing the right energy provider and power plan can be a bit of a hassle, as energy services in a deregulated market are numerous and difficult to compare. For this reason, we went through energy providers in Philadelphia and have come up with some of the most popular electric service options offered here. Here are the top twenty energy plans in Philadelphia, Pennsylvania: 

Philadelphia Electricity Companies 

Every Philadelphia electric company works hard to bring you the cheapest possible Philadelphia electricity rates. However, with a variety of power plans, it can be difficult to choose your next energy supplier. However, here are a few energy suppliers that seem to be doing very well for small businesses and residential energy needs: 

1. AEP Energy, 
2. APG&E, 
3. Energy Harbor, 
4. Freepoint, 
5. Marathon Energy, 
6. PAG&E, and 
7. SFE Energy. 

Electricity in Philadelphia is delivered by PECO, a utility company. This does not mean that you can purchase electricity directly from them, as energy deregulation means that one more player comes into the market. This is the power provider or retail energy supplier. Let’s see what the difference between a utility and an energy provider is: 

Utilities

A utility company is in charge of maintaining the power grid. This grid is then used to deliver electricity to your home. For this energy service, your utility company charges a low monthly fee (usually $5-10) and a small charge on every kWh for the power they deliver to your home. Your local utility company also ensures reliable electric service. It does so by maintaining the power lines and ensuring that any fallen lines and power outages are taken care of. 

Energy Providers

An energy provider, or electricity supplier, is the company you purchase power from. An electricity supplier buys power for you in the wholesale market and then sells it to you at a somewhat higher price. The price difference goes for managing the electric supplier and offering great service that Philadelphia residents are used to getting. 

Difference Between Utilities and Energy Providers

Although both utilities and your electricity provider both use the same network to deliver electricity to your home, they are not the same. If you imagine a power service as a parcel that should be delivered to your home, the series of roads and highways that the delivery service uses would be the grid. The company in charge of maintaining the roads would be the equivalent of a utility. It charges the toll or the supply rates, in our case. 

On the other hand, the provider is best compared to a delivery service. There are many of them, and you get to choose the best provider for you, based on your needs and their prices. In this example, a provider is the equivalent of USPS, FedEx, or other post services. It charges the energy rates and ensures you get what you pay for. 

How To Switch Electricity Providers in Philadelphia

As Philadelphia electricity rates and natural gas rates are very diverse, choosing the right one can take a bit of time. When you use Electricrate to check out how your current electric rates score in the state, you may be surprised to find that there are providers who can offer electricity at a lower price. Although the price for an individual kilowatt-hour is not too high, savings add up over time and can result in more money in your pocket at the end of the year. 

Step 1. Look Around For Different Electric Companies and Prices

First things first: you should check out Electricrate. Simply enter your ZIP code (of your new address) and follow through. You will be able to see a list of all power plans offered in the City of Brotherly Love. Scroll until you find the plan that matches your energy needs, as well as your budget. 

Step 2. Read Plan Details Thoroughly

Before making your final choice, you should read the plan details thoroughly. There are many ways that providers make their energy rates seem lower than they are. They do not include the supply charge or the fixed fees that should be paid for every month. For this reason, you should read the power plan details thoroughly and make a phone call to the provider in case there are any questions you think have not been answered clearly enough. 

Step 3. Confirm The Switch

If all the details match what has been advertised online, you can confirm the switch. In some cases, you should call your old provider and see if they can match the electric rate offered by your new provider. If they cannot, contact your desired supplier and tell them that you would like to do the switch. Allow for a while for them to handle the paperwork and start paying a lower energy rate. 

Types of Energy Plans Offered

There are as many power needs as there are customers in the Philadelphia energy market. If you would like to shop for a new power plan, you may be surprised to see that there are many kinds to choose from, even before choosing the right rate for you. There are residential and business energy plans, as well as plans including energy from renewable resources. Let’s check out some details on different types of energy plans offered: 

Residential Plans

Residential plans include fixed-rate and variable-rate plans. Residential plans are meant for all residents who need energy access for their homes. This is the energy powering your laptop as you are reading this article and the power that you use to do your laundry and cook lunch. Let’s find out more about the pros and cons of each of the types of residential energy plans. 

Fixed-Rate

A fixed-rate energy plan is probably the best choice that you can make. With a fixed-rate plan, you get a worry-free experience and a chance to lock in your energy rate for the duration of the contract. This gives you independence from extreme weather events, such as ice storms during winter and heat waves during summers. Regardless of how much the price of electricity fluctuates, you can enjoy the low rate stated in your contract. 

Variable-Rate

A variable-rate energy plan offers the ability to save on your energy bill during the spring and the autumn when the price of electricity is at its lowest. On the other hand, during the summer and winter months, you will be paying energy rates that are much higher than usual. We do not recommend this type of energy plan, in particular, because of high energy price volatility. Many consumers end up not really enjoying their energy bills with a variable rate plan. 

Business Energy Plans

Business energy plans are aimed at business owners. With these plans, the address on which your business is registered can enjoy a low energy price all day long. As not many power suppliers are 100% public with their business energy pricing, please contact them and make an inquiry. In general, businesses pay electricity prices that are some 10-20% lower than residential energy rates. Make sure you get the absolute best by contacting multiple providers and comparing their offers. 

Renewable Energy Plans

Renewable energy plans are aimed at anyone who would like to take control over their carbon footprint and to help mitigate climate change. If you choose a renewable energy plan, you will get a direct energy supply from nearby large-scale solar farms and wind farms. Philadelphia electricity rates for renewable electricity are somewhat higher than with other types of energy plans, but the benefit of having renewable electricity power your home means the world to many. 

Energy Deregulation In Philadelphia

Energy deregulation in Philadelphia took place in 2002. House Bill 1509 officially deregulated much of Pennsylvania territory, including Philadelphia. Energy deregulation means a lot of benefits for Pennsylvania residents, as customers can enjoy: 

• Lower price for energy services, 
• Better customer care and support, 
• More freebies and innovative energy supply solutions. 

About Philadelphia

Philadelphia is the largest city in Pennsylvania. With more than 1.5 million residents, it is a real urban core. However, Philadelphia is also home to a lot of historic sites and landmarks. It has helped shape American history and is a jewel of the nation. It houses the Liberty Bell and is the place where American democracy first came into being. 

Philadelphia Zip Codes

Philadelphia is a large city. Its many neighborhoods have a lot to offer to everybody. Whether you are a family man looking for the next perfect residence for a growing family, a business owner looking for more opportunities, or if you are looking for a calm place to retire, you should check out Philadelphia neighborhoods. Here is a list of the top five Philadelphia neighborhoods to move to: 

1. Fishtown – ZIP code: 19125, 
2. Old City – ZIP code: 19106, 
3. Northern Liberties – ZIP code: 19123, 
4. Washington Square – ZIP code: 19107, and 
5. Queen Village – ZIP code: 19103. 

If you would like to compare different energy plans in your area, all you need is to enter your ZIP code on Electricrate, and we will take care of the rest. Our service gives you a handy overview of every energy provider working in the Philadelphia area so that you can easily compare electricity and natural gas rates here. Philadelphia electricity is cheap, so there is no reason for consumers to overpay on their energy bills. 

Energy Data Profile 

Philadelphia has made a vow to be carbon-neutral by 2050, and so did Pennsylvania. This means that the current energy profile will be changing significantly over the incoming decades. As deregulation took place and as solar and wind green energy technologies got cheaper, Pennsylvania is very likely to meet its ambitious goal. Here are some quick facts about Pennsylvania energy profile right now: 

• Pennsylvania will become carbon-neutral by 2050,
• Currently, there are 855 MW of solar capacity installed. This produces 0.39% of the state’s electricity, 
• The average payback period for a residential solar PV system is around nine years, 
• The average electric rate a Pennsylvania resident pays is $0.14 per kWh (4% higher than the national average), 
• Pennsylvania is the third-largest coal producer in the US, 
• Pennsylvania is also the second-largest coal exporter, 
• More than 50% of Pennsylvania households use natural gas to heat their homes. 

FAQs

Conclusion

As the prices of electricity in Philadelphia have gone up in recent years, it may be the right time to reevaluate your energy usage and consider switching to green energy. Green energy plans come with a small green premium but also with the peace of mind of knowing that you are doing your bit to help fight climate change. Other options, such as fixed-rate energy plans and freebies, can also help save money for you. So, if you haven’t shopped for energy in a while, now may be a perfect time. 

Updated on 06-06-23