Earn 6 percent interest from PECO

Earn 6% interest from PECO to help you prepare for end of rate caps

The sign-up period for the Early Phase-In option has closed.  For information related to your specific account, please visit the My Account section of our site.

We understand increases to your energy bill can be difficult, especially in today’s economy. We want to do everything we can to help our customers. That is why we are offering an Early Phase-In payment option. This program is available to business customers with peak loads less than 500 kilowatts.

With the Early Phase-In program, you can choose to spread out any increase by making advance payments in 2009 and 2010. PECO will pay you 6 percent interest on your payments. Your advance payments, plus the 6 percent interest paid by PECO, will be applied to your account beginning January 2011 to help you offset any higher prices.

The actual amount of your Early Phase-In payments and credits will depend on your current electric rate and average monthly energy use for the past year.

Some important things to know about the program

• It is voluntary – you do not have to enroll in the program.
• If you decide to leave the program, you can do so at any time and receive a full credit, with interest.
• If you participate in Early Phase-In, you can still choose a retail energy supplier through Pennsylvania’s Electric Choice program.
• Participation in the program also will not affect your price to compare – the price you would use to compare offers from other electricity suppliers.

Here is how the program works
Rate GS business customers participating in the Early Phase-In program will pay an additional $0.0030 per kilowatt-hour (kWh) of energy use beginning in July 2009 and an additional $0.0061 per kWh of energy use beginning in January 2010. These payments, plus the 6 percent interest paid by PECO, will be applied to your account beginning January 2011. The chart below provides an example of the monthly Early Phase-In charges and credits for a commercial Rate GS customer using 5,000 kWhs per month. Your rate and actual monthly electric usage can be found on your PECO bill. In this example, the total amount of Early Phase-In charges is $456 and the total amount of Early Phase-In credits is $498.12.

2009 Monthly Early Phase-In Charge $15.00

2010 Monthly Early Phase-In Charge $30.50

2011 Monthly Early Phase-In Credit ($27.68)

2012 Monthly Early Phase-In Credit ($13.83)

You also can save money, and help the environment, by using less energy. To learn more, visit www.peco.com/save.

The average increase for the GS class in 2011 is anticipated to be 12 percent. For customers whose monthly usage falls below the class average of 4,700 kilowatt-hours (kWh), it is likely – but not certain – that their increase will be less than the class average. Customers whose monthly usage is greater than the class average of 4,700 kWh, it is likely – but not certain – that their increase will be greater than the class average. While all customers may benefit from the Early Phase-In option, those customers who anticipate a larger than class average increase may find the program of greater benefit. Your usage for the prior month is shown on this month’s bill. If you have questions about your historic usage patterns, or want more information about the Early Phase-In option, please call the number located on your bill.