⚡ Why your electric bill is going up | Business Weekly Newsletter
Energy costs are on the rise, and other stories.
If you live in Pennsylvania, your electric bill is likely going up. Eight utilities across the state are set to raise their energy prices this week, and some customers could see costs increase by as much as 50%. My colleague Andrew Maykuth has explained why energy costs are rising and how you can save.
If your bill gets more expensive, let me know which utilities or companies are charging you more. I’m also looking for Comcast cable bills to see if the company is raising rates for TV and internet.
📧 Email me back here, and look out for your observations in next Tuesday’s Business Weekly newsletter.
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Utilities are passing along to consumers the higher costs of power generators, which are facing higher fuel prices driven mostly by natural gas. Peco Energy, for example, will boost its energy charge by 6.4% on Wednesday for customers in Philly and the suburbs. Residents served by PPL Energy Utilities will see a 26% increase.
There are ways to save besides turning down the thermostat. Utilities offer programs and grants to support low-income customers. Then there’s the often-overlooked “standard offer.” But the clock is ticking to secure the best deal.
Here’s how It works: Customers call their utility and get randomly assigned to a supplier offering a 12-month fixed-rate plan at 7% below the utility’s current price. Customers can cancel a standard offer any time over the year with no early cancellation fees. That means customers can lock in now at 7% below utilities’ current default rates — before the charges go up Wednesday.
Our reporter Andrew Maykuth has more on rising energy prices.
What else you need to know ...
Other stories ...
The last Sears: Pennsylvania’s last full-service Sears survives in Willow Grove. “There’s hardly anything in there,” as one customer put it.
Black Friday: Shoppers flocked to area stores before dawn on the day after Thanksgiving, but with pandemic caution in mind.
Not just Facebook: Cesium, a Philly software company, is helping build the “metaverse,” too. The firm’s CEO explains how the immersive digital world works and why it could be the Next Big Thing.
Looking for a job? The Philly Shipyard has hired 600 people in the last 10 months and wants another 400 by next year. It’s using a program started by the West Philadelphia Skills Initiative.
Par Funding settles: The owners of Par Funding and King of Prussia financial salesman Dean Vagnozzi agreed to pay back 1,200 investors who federal regulators said were seduced with a stream of lies.
Bogus blogs: A complex digital edifice of websites, blogs, and social media profiles has been concocted around businessman Thomas Salzano in an apparent bid to obscure his past.
‘Just do it’: A Norristown sports gear maker whipped Nike in court. A federal-court jury upheld its claims of trademark infringement by Nike.
Surviving the pandemic: COVID-19 claimed scores of small-business casualties around the region. But for those who made it to the other side, the recipe was equal parts hard work and serendipity.