ALLENTOWN, Pa., Oct. 22 /PRNewswire-FirstCall/ -- PPL Electric Utilities on
Thursday (10/22) announced the results of the second in a series of scheduled
purchases for 2011 electricity supply. In this round, 13 companies competed
for supply contracts.
PPL Electric Utilities obtained about 17 percent of the load-following
electricity supply it will need to serve residential and small- and mid-size
business customers from Jan. 1, 2011, to Aug. 31, 2011. Suppliers who win
these full-requirements, load-following contracts commit to providing a
percentage of the power needed to serve customers who do not choose
alternative suppliers for the contract period. The price in these purchases
was $95.95 per megawatt-hour for residential customers and $98.11 per
megawatt-hour for small and mid-sized businesses.
Also in this round, the company purchased two 25-megawatt blocks of
around-the-clock electricity supply at an average price of $57.70 per
megawatt-hour to serve residential customers from Jan. 1, 2011, to Aug. 31,
2011. The company also secured most of the alternative energy credits needed
for these blocks of supply.
The price for these supply blocks is for energy only and does not include
capacity and other charges, which the company will purchase separately from
the regional PJM Interconnection.
The results for this purchase of load-following supply, blocks of
around-the-clock electricity supply and most of the alternative energy credits
needed for those blocks were approved Thursday (10/22) by the Pennsylvania
Public Utility Commission. The PUC did not approve the purchase of a small
amount of solar alternative energy credits because of a lack of supplier
participation.
State law requires PPL Electric Utilities, which does not own power plants and
does not generate electricity, to buy default electricity supply from the
competitive market for its customers who do not select alternative suppliers.
The company must obtain electricity supply through a combination of
short-term, long-term and spot-market purchases, and pass the costs through to
customers without profit.
PPL Electric Utilities, a subsidiary of PPL Corporation (NYSE: PPL), provides
electric delivery service to 1.4 million customers in 29 counties of eastern
and central Pennsylvania and has consistently ranked among the best companies
for customer service in the United States. More information is available at
www.pplelectric.com.
SOURCE PPL Electric Utilities
Ryan Hill of PPL Electric Utilities, +1-610-774-5997
