After being approved by the Public Utility Commission, PPL this week released the first comprehensive information on its optional phase-in program aimed at helping residential and small business electric customers deal with cost increases when rate caps come off in 2010.

The phase-in program allows customers to make advance payments on their bills each month through 2008 and 2009. In addition to the payments, PPL Electric Utilities also adds 6 percent interest to customer accounts. The money paid by customers and the interest earned will then be used to offset a portion of customer electric bills in 2010 and 2011.

Instead of one large increase in 2010, customers will have smaller increases spread over several years. And because of the interest earned, customers will pay a little less overall over the life of the program than if customers do not participate.

All residential customers, except those in PPL’s special OnTrack payment program, are eligible. Also eligible are small business customers on rate schedules GS-1, GS-3, GH-1R and GH-2(R), and street lighting customers on rate schedule SE. Payment and credit amounts are based on your average monthly electric use and rate schedule.

The PPL Phase-In webpage allows customers to log into their accounts and get the specific amount of their monthly phase-in payment based on their specific electric use. A four-bedroom all-electric home, for example, would have a payment of about $14.40 per month.

For more information, visit the PPL Phase-In webpage.

9/5/2008