For Immediate Release
PHILADELPHIA (October 22, 2015) -- The Pennsylvania Public Utility Commission (PUC) today approved PECO’s System 2020 plan to invest an additional $274 million, during the next five years, to install advanced equipment, explore state-of-the-art microgrid technology and reinforce the future electric system, making it more weather resistant and less vulnerable to storm damage.
“Given that innovations like microgrid technology may help enhance reliability and resiliency, I am encouraged by PECO’s proposal,” said PUC Commissioner Pamela A. Witmer. “I applaud PECO for this proposal, and I look forward to further details as the company evaluates these projects and develops a plan.”
This investment is in addition to $300 million in ongoing system work completed each year, including replacing equipment and upgrading infrastructure.
“As we work to continue to exceed our customers’ expectations we know the importance of clean, reliable and affordable energy,” said Craig Adams, PECO president and CEO. “With this advanced technology and new learnings, we will make our future electric system even more reliable and more resistant to storm-related outages.”
Beginning in 2016, PECO will implement a five-year plan, which also includes:
During the past five years, PECO has invested more than $1.5 billion in its electric distribution system, installing advanced devices that are transforming the future of energy.
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.
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