PPL Residential Rate To Drop 10.7 Percent

PPL Electric Utilities said today it will cut its residential rates by 10.7 percent, effective March 1.

It will be the fifth consecutive rate reduction since PPL rates spiked nearly 30 percent in January 2010.

In total, the series of cuts will have nearly erased that record increase two years ago.

PPL said it’s been able to trim rates because it’s paying less to obtain power on the wholesale market, a trend it foresees continuing

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