For Immediate Release
PHILADELPHIA (April 9, 2014) – PECO continues to expand its natural gas system, providing the opportunity for more customers to take advantage of an economical, domestic and environmentally- friendly energy resource. In April, the company will celebrate the significant milestone of providing natural gas service to more than 500,000 customers in southeastern Pennsylvania.
The low prices of natural gas have increased the demand for natural gas service throughout the region. In addition, future commodity prices are projected to remain low, positioning natural gas as an economical, long-term investment for customers.
"We are always looking for ways to provide safe, reliable and cost-effective energy solutions to our customers, and expanding natural gas service is part of those efforts," said Craig Adams, PECO president and CEO. "This is a significant achievement for PECO, and we look forward to providing the opportunity for more customers to take advantage of the many benefits of natural gas in the future."
PECO operates and maintains more than 12,000 miles of natural gas distribution and service lines serving customers across Bucks, Chester, Delaware, Montgomery and a small portion of Lancaster counties.
The company will invest approximately $90 million in its natural gas system this year. This investment includes inspecting equipment, completing necessary repairs or replacements, performing preventative maintenance work, and installing additional natural gas main and service lines to bring natural gas service to new customers.
In addition to the many benefits of natural gas, PECO offers a variety of rebates for customers who make the switch to natural gas through the company's Smart Ideas program. For more information on PECO's natural gas conversion programs and more ways to save energy and money, visitwww.peco.com/smartideas.
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 500,000 natural gas customers in southeastern Pennsylvania and employs about 2,400 people in the region. PECO delivered 85.7 billion cubic feet of natural gas and 37.8 billion kilowatt-hours of electricity in 2013. 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.
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