Settlement Reached in Electric Delivery Rate Request
September 10 2015 - 3:30PM
Business Wire
PECO customers to benefit from robust system
investments, enhanced customer service options and continued
support for low-income programs
PECO today filed a settlement petition with the Pennsylvania
Public Utility Commission (PUC) announcing that agreements have
been reached with all interested groups on changes to electric
delivery rates beginning January 1, 2016.
“With this funding we will continue to ensure safe and reliable
electric service and develop new helpful programs and services for
our customers,” said Craig Adams, PECO president and CEO. “We
appreciate the hard work and cooperation of all involved as we
worked together on this necessary increase.”
Based on this settlement, overall energy delivery rates would
increase less than 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 $4.17. Bills for a typical small business customer
would increase by about $17.02 per month, and monthly bills for a
typical large customer would increase by $432.32. The settlement
and rate request must be approved by the PUC.
The settlement reflects a $127 million overall increase in
electric delivery rates, allowing PECO 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.
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. PECO will send an
energy advisor to your home, provide a personal energy assessment
and offer energy-efficient upgrades on the spot.
- Up to $150 a year by getting rid of
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 used for
lighting by purchasing deeply discounted LED and CFL 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
Services 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
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version on businesswire.com: http://www.businesswire.com/news/home/20150910006693/en/
PECOBen Armstrong,
215-841-5555benjamin.armstrong@exeloncorp.com
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