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October 29, 2007

Prepay plan proposed by PPL

With the lifting of the caps on the cost of power generation approaching, PPL Electric Utilities proposed a voluntary plan for customers to pay more in advance rather than bear the full cost of the imminent rate hikes.

The plan to be submitted to the Pennsylvania Public Utility Commission next month would allow customers to step up their payments over a five-year period to ease the impact of the estimated 35-percent increase in 2010.

“If you wanted to participate in the program on July 1, 2008 your bill would go up about 7 percent,” said Dan McCarthy, a spokesman for PPL Electric Utilities in Allentown. The bill would go up another 7 percent in 2009 and approximately 6 percent annually from 2010 through 2012.

The utility proposes investing the extra payments so that the money earns interest to be paid towards the customers bills, McCarthy said.

More details of the plan will be revealed at a later date.

For the complete story read The Times Leader on Tuesday.

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