PHILADELPHIA (December 6, 2007) – The Pennsylvania Public Utility Commission (PUC) today approved PECO’s proposal to begin now to purchase renewable energy credits in fulfillment of Pennsylvania’s Alternative Energy Portfolio Standards (AEPS) legislation.  With this approval, the company’s efforts will have the same benefit to the environment as planting more than 33 million trees and not driving 428 million miles.

“We applaud the PUC for approving this filing,” said Denis O’Brien, president & CEO of PECO.  “It is good for our customers and good for the environment.  By purchasing these renewable energy credits now and banking them to meet future requirements we can take advantage of current market prices while also helping to increase the demand for renewable resources, and reducing our dependency on fossil fuels.”

The AEPS legislation requires that, by 2011, 3.5 percent of the energy consumed by PECO customers is provided through renewable resources – such as wind, methane gas and biomass.  The legislation further requires a ½ percent annual increase in renewable requirements, ensuring that by 2020 renewable resources will make up a total of 8 percent of the energy consumed by PECO customers.  By 2020, the company estimates that as much as 3.3 million megawatt hours (or 1,512 megawatts) of renewable resources could be needed to meet the requirement.  One megawatt is enough energy to power approximately 800 – 1,000 homes.

PECO will meet the initial requirement by purchasing the equivalent of 240 megawatts of alternative energy credits for five years.  A credit is generated each time one megawatt-hour of renewable energy is produced.