PECO Requests PUC Approval to Make Additional Infrastructure Investments & Increase Electric Delivery Rates
March 27 2015 - 11:57AM
Business Wire
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:
- Up to 20 percent on their energy bills
by taking advantage of PECO Smart House Call.
- 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.
- 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.
- 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.
PECOBen Armstrong,
215-841-5555benjamin.armstrong@exeloncorp.com
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