Philadelphia

by admin on December 4, 2009

 

Finding a Cheap Electricity Company in Philadelphia PA

If you are familiar with Philadelphia PA you may be aware that starting January 2010 your electricity rate with Peco Energy aka Exelon will be going up dramatically. The reason your electricity rate will be going up so high is due to the government mandated price cap going away. Peco Energy will be raising your electricity rate quite a bit higher and several competitive electricity companies will be coming into the state to offer Philadelphia electricity service customers a cheaper price for their energy.

Will A Deposit Be Required To Sign Up With A Cheaper PA Electricity Company?

Unfortunately if you have bad credit or no established credit most electricity utilities are going to ask you for some type of deposit. There are a few electricity companies out there that may be coming into Pennsylvania to offer a pay as you go type of electricity rate. A prepaid pay as you go rate will not require a deposit but there are catches to these type of Philadelphia electricity companies. For one thing you will usually be given a teaser introductory fee to pay to begin service.

The teaser fee will be on an advertisement saying something to the effect of “only $99 to begin service”. The problem is that this fee usually doesn’t even pre pay for the first month of service. A few weeks later you will be asked for a whopping $200 – $500 to continue to keep electricity service at your Philadelphia home or apartment turned on. The reason the charge will be so high is due to the exorbitantly high electric rate you are at. The rate has to be inflated about 7 cents higher than normal because they are taking on a credit risk customer. Rather than avoid a deposit by going with a prepaid electricity company we recommend shopping around with several traditional electric companies in the Philadelphia area.

You can attempt to sign up with a few different Philadelphia electricity providers until you are asked for a reasonable deposit amount or perhaps no deposit. Once you have the rate and deposit amount you can live with just give that electric company approval to turn your lights on by sending them the deposit amount they require. Most Pennsylvania electricity companies will allow you to pay your electricity deposit over the phone or at an Ace Cash type of store.

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