PECO Electric Rates Drop Almost 30% Since 2011 Helping Customers to Continue to Save Big on Energy Costs
March 22 2017 - 1:00PM
Business Wire
Customers can save even more with PECO Smart
Energy Choice
As of March 1, PECO’s electric rates are the lowest they have
been since the transition to market-based rates in 2011. Because of
this, the typical PECO electric customer is paying about $12 less
per month for their electricity compared to the same time six years
ago. Electric customers across PECO’s service territory continue to
see the benefits of electric competition with many customers saving
even more through a competitive electric generation supplier.
Lower wholesale power prices, driven by electric competition and
lower natural gas prices, are resulting in savings for PECO’s
electric customers. As of March 1, PECO’s residential price to
compare was 7.15 cents per kilowatt hour. As a result, bills for
the typical residential customer are about $106 per month.
“The competitive energy market and the benefits of clean,
affordable and local natural gas are leading to big savings for our
customers,” said Craig Adams, PECO President and CEO. “This is
money our customers can put back into their pockets and into the
local economy to support further growth in our region.”
PECO customers not currently shopping with a competitive
electric generation supplier could save even more with PECO Smart
Energy Choice. The program provides a discounted rate to customers
who choose to purchase the electric they use from a participating
competitive electric generation supplier. The discounted rate is 7
percent less than PECO’s current price to compare for generation
charges and is available for at least one year. Customers who sign
up can switch at any time without exit fees. Customers can sign up
by calling PECO at 1-800-494-4000.
Nearly 600,000 PECO customers are purchasing the electricity
they use from a competitive electric generation supplier. Customers
who want to find out more about shopping for electricity can visit
peco.com/choice or the Pennsylvania Public Utility Commission’s
website at papowerswitch.com.
Electric commodity costs fluctuate – either increasing or
decreasing – based on many factors including wholesale prices when
purchases are made, the amount of wholesale electricity purchased,
the length of contracts, weather, reconciliation of collections for
actual versus forecasted energy use, and other calculations.
PECO customers also can save with PECO Smart Ideas, the
company’s suite of award-winning energy efficiency solutions. PECO
has solutions to help every customer save energy and money – learn
more at peco.com/smartideas.
PECO, founded in 1881, is Pennsylvania’s largest electric and
natural gas utility. Headquartered in Philadelphia, PECO delivers
energy to more than 1.6 million electric customers and more than
516,000 natural gas customers in southeastern, Pennsylvania. The
company’s 2,500 employees are dedicated to the safe and reliable
delivery of electricity and natural gas as well as enhanced energy
management conservation, environmental stewardship and community
assistance. The company also has an estimated annual economic
impact of $4.3 billion in Pennsylvania, supporting more than 8,700
local jobs and producing $732 million in labor income. PECO is a
subsidiary of Exelon Corporation (NYSE: EXC), the nation's only
Fortune 100 utility and leading competitive energy provider. For
more information visit PECO.com, and connect with the company on
Facebook and Twitter.
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version on businesswire.com: http://www.businesswire.com/news/home/20170322005959/en/
PECOBen Armstrong215-841-4137 or
215-841-5555benjamin.armstrong@exeloncorp.com
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