In two filings completed today by PECO, the company requested
Pennsylvania Public Utility Commission (PUC) approval of additional work
to modernize and weatherize the local electric infrastructure through
its System 2020 plan, and increase the rates charged to customers for
the delivery of electricity.
The electric delivery rate request will help fund at least $300 million
of ongoing system work each year, including replacing equipment and
upgrading infrastructure to continue to provide safe and reliable
service to customers. In addition, through the new System 2020 plan, an
additional $275 million will be spent during the next five years to
install advanced equipment and reinforce the local electric system,
making it more weather resistant and less vulnerable to storm damage.
Based on the company’s $190 million rate request overall energy delivery
rates would increase about 4.4 percent beginning January 1, 2016.
Specifically, the total monthly bill for a typical residential electric
customer using about 700 kilowatt hours of electricity would increase
about $6.55. Bills for a typical small business customer would increase
by about $27.72 per month, and monthly bills for a typical large
customer would increase by $847.57. Per PUC process, any charges
associated with the additional System 2020 work would be submitted for
subsequent review by the PUC.
“Our customers depend on us, day in and day out, to provide the
electricity they need and we take this responsibility seriously,” said
Craig Adams, PECO president and CEO. “These investments are needed to
ensure we can continue to keep the lights on for our customers and
provide the safe, reliable service they deserve. We will continue to
invest in our system to prevent the outages that can be prevented,
reduce the amount of time our customers are without power when an outage
does occur, and strengthen the portions of our system that have
experienced an increased number of outages due to storms.”
PECO is committed to helping customers offset the impact of this
increase by continuing to offer programs that help save energy and
money. By participating in PECO Smart Ideas, the company’s suite of
energy efficiency programs, customers can save:
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Up to 20 percent on their energy bills by taking advantage of PECO
Smart House Call.
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Up to $150 a year by getting rid of your extra working refrigerators
and freezers. With PECO Smart Appliance Recycling we will pick up
older working refrigerators and freezers, recycle them, and pay
customers $50.
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Up to 25 percent of the energy they use for lighting by purchasing
deeply discounted CFL and LED lights at hundreds of local stores
through PECO Smart Lighting Discounts.
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7 percent on the electricity they use by purchasing their electricity
from any of the competitive electric generation suppliers
participating in PECO Smart Energy Choice.
To find more ways to save energy and money visit peco.com/SmartIdeas.
PECO also offers payment options, like budget billing, to help customers
manage their monthly electricity bills. Budget billing makes short-term
fluctuation in monthly bills much easier to handle by dividing annual
energy costs evenly throughout the year.
Many programs also are available to help low-income customers who are
struggling to pay their energy bills. Through our Universal Service
programs, we assist more than 150,000 low-income customers each year
with reduced rates, free energy-efficiency improvements and Low Income
Home Energy Assistance Program (LIHEAP) funding. To learn more about
these programs visit peco.com/help.
To learn more about our filings visit peco.com/rates
or call 1-800-494-4000.
Based in Philadelphia, PECO is an electric and natural gas utility
subsidiary of Exelon Corporation (NYSE: EXC). PECO serves 1.6
million electric and more than 506,000 natural gas customers in
southeastern Pennsylvania and employs about 2,400 people in the region.
PECO delivered 89.9 billion cubic feet of natural gas and 37.5
billion kilowatt-hours of electricity in 2014. Founded in 1881,
PECO is one of the Greater Philadelphia Region's most active corporate
citizens, providing leadership, volunteer and financial support to
numerous arts and culture, education, environmental, economic
development and community programs and organizations. For more
information visit PECO.com,
and connect with the company on Facebook
and Twitter.
If you are a member of the media and would like to receive PECO news
releases via e-mail please send your e-mail address to PECO.Communication@exeloncorp.com.
Copyright Business Wire 2015