PECO Files for Rate Increase of $127 Million
PECO – a subsidiary of Exelon that serves about 1.5 million electric customers and over 500,000 natural gas customers in southeastern Pennsylvania – filed a settlement petition on September 10 with the Pennsylvania Public Utility Commission (PUC), reflecting a $127 million overall increase in electric delivery rates.
Based on the terms of the settlement – which have yet to be approved by the PUC – overall energy delivery rates would increase a little less than 4 percent beginning January 1, 2016.
Specifically, the total monthly bill for a typical residential electric customer using about 700 kilowatt hours (KWh) of electricity would increase $4.17. Bills for small business customers would increase by about $17.02/month, and typical large customer would pay an extra $432.32/month.
“With this funding we will continue to ensure safe and reliable electric service and develop new … services for our customers,” said PECO CEO Craig Adams, noting that the settlement would enable the utility to continue to invest in ongoing system work, including replacing equipment and upgrading infrastructure. The increase also will allow the company to enhance customer service options and provide support for low-income customers.
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