Remember last year when Gov. Rendell was trying to persuade the state legislature to pass bills on the use of smart meters and other energy matters? And there was a lot of talk and debate and nothing happened? The chickens are coming home to roost.
From the inbox:
On Thursday, March 26, the House Consumer Affairs Committee will hold a public hearing on House Bill 20, a proposal that would give consumers like you the ability to choose how electricity rate hikes will impact your energy bills when rate caps expire. Consumer advocates, power suppliers and industry experts are all expected to offer testimony, and you can watch it LIVE online starting at 9 a.m. at www.pahouse.com.
The legislation, introduced by House Speaker Keith McCall and Majority Leader Todd Eachus, would cap rate hikes at no more than 15 percent per year for a three-year period, allow customers to choose to pre-pay – and earn 6 percent interest on those payments – to reduce the impact of increased rates, and prohibit power companies from putting the burden of recovering long-term rate recovery costs on consumers.
Caps on electricity rates for customers of PPL expire at the end of the year, and caps will expire for PECO, First Energy and Allegheny Energy on Dec. 31, 2010.
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