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For Immediate Release

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PECO Announces New Incentive for Electric Vehicle Charging Stations

PHILADELPHIA (October 4, 2018) – At the MidAtlantic Transportation Electrification Forum held on September 21 in Philadelphia, PECO announced that the utility will be offering a new incentive for commercial customers who install electric vehicle charging stations for public use. The incentive will be available to any commercial customer who successfully applies for funding under the Pennsylvania Department of Environmental Protection's (DEP) "Driving PA Forward" program.

Through the end of 2018, PECO will provide matching grants of up to $500 to the first 50 customers in its service territory who apply for state funding to Level 2 public charging stations, which are capable of charging most vehicles in two to three hours. Incentives provided by PECO will primarily offset the costs not eligible for reimbursement under the program to commercial customers and municipalities for installing charging stations at convenient locations for public usage.

"Many of our customers, especially our municipalities, have expressed interest in providing greater public access to electric vehicle charging," said Mike Innocenzo, PECO President and CEO. "This incentive, combined with available state funding, will make it possible for schools, local governments and businesses to install new public charging stations and encourage Pennsylvanians to go electric."

The MidAtlantic Transportation Electrification Forum, hosted by PECO, brought together industry, academic, and policy experts with 250 opinion leaders from across the region. The Forum was held at Philadelphia's Memorial Hall, site of the 1876 Centennial Exposition that showcased some of the very first innovations in electricity and is currently the home of the Please Touch Museum. The program included panels with top authorities from the passenger, commercial, and industrial transportation and electrification sectors, as well as experts from the charging infrastructure sector. Representatives included speakers from General Motors, Ford, Eaton, UPS, Proterra, BYD, the Edison Electric Institute and Electrify America.

The PA DEP established the Driving PA Forward program to allocate funding the state received under the national Volkswagen Settlement.

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PECO, founded in 1881, is Pennsylvania's largest electric and natural gas utility.  Headquartered in Philadelphia, PECO delivers energy to more than 1.6 million electric customers and more than 516,000 natural gas customers in southeastern, Pennsylvania.  The company's 2,500 employees are dedicated to the safe and reliable delivery of electricity and natural gas as well as enhanced energy management conservation, environmental stewardship and community assistance.  PECO was named 2017 Best Mid-size Employer in Philadelphia by Forbes Magazine. The company also has an estimated annual economic impact of $4.3 billion in Pennsylvania, supporting more than 8,700 local jobs and producing $732 million in labor income.  PECO is a subsidiary of Exelon Corporation (NYSE: EXC), the nation's only Fortune 100 utility and leading competitive energy provider. For more information visit PECO.com, and connect with the company on Facebook and Twitter.

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