Citing an abundant supply of electricity as a major factor, Penelec has announced electric rates will be going down.
 
The lower rate will go into effect Friday and stay in place through August.
 
The residential rate for electricity will drop from 7.495 cents per kilowatt hour to 6.3 cents per kilowatt hour.
 
In addition to the ample supply of electricity, lower natural gas prices are contributing to the rate reduction.