So, who is PECO Energy and how can you select an alternate electric supplier? Living in the greater Philadelphia area comes with perks! One of those allows you to select a 3rd party electricity provider (electric supplier). Yet, so many residents in Philadelphia are unaware they can do this.
Who is PECO Energy
According to PECO, they’ve had a history of more than 130 years in business. Servicing residents and businesses all over the Greater Philadelphia region. Formerly, Philadelphia Electric Company, PECO Energy was incorporated in 1902.
Its origins date back to The Brush Electric Light Company of Philadelphia, which was formed in 1881. To this day, PECO Energy remains one of the oldest and largest utility companies in the United States.
Important Electricity Terms to Understand
Below are some terms you should be familiar with…
Electric Suppliers: 3rd party electricity providers that purchase energy to sell at competitive electricity rates to consumers (residents). These are the companies you can switch to. They will be responsible for billing you monthly for electricity usage.
Utility Distributor: An example of a utility distributor is PECO Energy. They transport the electricity via power lines to your residence. This company operates and fixes damaged power lines. Note, you can switch away from your utility distributor.
Consumers (residents): Someone who uses energy at their home, apartment, or small business.
You Can Choose a 3rd Party Electricity Provider
If you live in a deregulated energy market by law you can select a different electric supplier, also known as a REP (retail electricity provider). These 3rd party companies will be the ones taking over your billing going forward. PECO Energy (a power distributor) will still service the power lines in case of power outages, damage from wind, or trees. However, the bill that will be sent to your house. Will be from your new 3rd party electricity provider.
Once you’ve selected a new electric supplier, they will notify your electric utility distributor (PECO Energy) of the change. PECO Energy will then contact you by mail. As a courtesy follow up, making sure you requested the new electric supplier.
Why Switching Your Electric Supplier Helps
The benefit of switching away from PECO to a 3rd party provider is that you often gain instant savings. With rate caps expiring years ago, more and more competitive suppliers are offering residents options when it comes to residential energy choices.
Switching electric suppliers allows you as the consumer to take control of your electricity rates and bill. Allowing you to shop multiple rates which can bring savings. In addition, many 3rd party electric suppliers offer green energy options. More residents are turning to these options as a way to help the environment.
In some instances, a 3rd party electricity provider will offer guaranteed savings. It’s not uncommon for the electric supplier to have cheaper rates than the original price offered by PECO Energy. The best part is that it’s absolutely free to switch your electric supplier. There is NO penalty for switching away from PECO Energy.
Where to Shop 3rd Party Electricity Provider Rates
UtilityHound has one of the largest online platforms for shopping and comparing an electric supplier. Their platform is fully transparent allowing you to look at multiple plans from multiple providers. Once you find the electric provider and plan you’d like. They’ll get it connected so you can start enjoying savings on your upcoming electric bills! Using UtilityHound, also allows you to avoid calling into call centers to start service. This is a huge time saver!
What PECO Energy Information Does My New Electric Supplier Need
To switch your electricity provider there are a few pieces of information the new electric supplier may request. You’ll be required to enter your basic information (First & Last Name, Service Address, Phone Number, and your old Distributor (Ex. PECO Energy) customer account # or Supplier Agreement ID. This last part may be called different things depending who your original electric distributor is. This number helps your new supplier get in touch with PECO Energy (or any other distributor) to notify them of your account switch.
Visit UtilityHound today to start saving money on your electric bills tomorrow!