PECO Makes Switching to Natural Gas More Affordable for Customers
October 01 2015 - 4:59PM
Business Wire
New plan provides enhanced programs and
incentives to help customers take advantage of low natural gas
prices
The PAPUC today approved PECO’s plan to expand natural gas
service to meet growing customer demand. The plan, filed in
November 2014, includes:
- A change in how the customer credit is
determined to reduce the upfront cost of establishing natural gas
service for customers. Customers will now receive a larger credit
based on their natural gas usage. This expanded credit will be
available to customers beginning October 5.
- A pilot program to reduce the cost of
extending natural gas mains to neighborhoods where natural gas is
not currently available. The pilot will begin in early 2016.
Customers can learn more about the program at
peco.com/gasconversion.
“We continue to find new and innovative ways to provide safe and
reliable energy solutions to our customers. Expanding natural gas
service is part of those efforts,” said Craig Adams, PECO president
and CEO. “With natural gas prices at their lowest point in years,
this plan will help to meet the increased demand for natural gas
service and provide cost-effective ways for more customers to take
advantage of the many benefits of natural gas.”
Customers continue to save money due to lower natural gas
prices. Today, average customers are paying about 50 percent less
for natural gas than they did in 2008. Lower natural gas prices
also have reduced the cost of electric generation – saving
residential PECO natural gas and electric customers about $1,000 a
year.
“Today’s action is another in a series of positive steps
designed to afford Pennsylvania citizens every reasonable
opportunity to avail themselves of the numerous benefits of natural
gas,” said Pennsylvania Public Utility Commissioner Pamela Witmer.
“I reiterate my enthusiastic support for these proposals, and I
continue to challenge other natural gas distribution companies to
consider ways in which they can bring this homegrown fuel source to
more Pennsylvania consumers.”
In addition to these new programs, other natural gas energy
efficiency and incentive programs include:
- PECO Smart Natural Gas Conversion
offers rebates up to $200 for residential and up to $1,000 for
commercial customers that switch to natural gas from another fuel
source. This rebate is in addition to other credits also provided
by PECO.
- PECO Smart Gas Efficiency Upgrade
provides up to $300 in rebates for customers installing ENERGY
STAR® qualified natural gas furnaces or boilers.
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 email, please send your email address to
PECO.Communication@exeloncorp.com.
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PECOGreg Smore, 215-841-5555Greg.Smore@exeloncorp.com
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