For Immediate Release
PHILADELPHIA (November 28, 2016) – Today, PECO broke ground on a new project that will make safe, reliable and affordable natural gas available to a neighborhood of 160 customers in Tredyffrin Township, Pa. The project is part of the expanded PECO Smart Natural Gas Conversion program, which makes switching to natural gas service more affordable.
In October 2015, the Pennsylvania Public Utility Commission approved PECO's plan to expand natural gas service to meet growing customer demand. This plan included a change to reduce the upfront cost of establishing natural gas service for customers. In addition, the plan included a pilot program to reduce the cost of extending natural gas mains to neighborhoods where natural gas is not currently available. Customers can learn more about the program at peco.com/gasconversion.
"We continue to find new and innovative ways to provide safe and reliable energy solutions to our customers, and expanding natural gas service is part of those efforts," said Ron Bradley, PECO vice president of Gas Operations. "This project is a positive result of our natural gas expansion initiatives, which help more customers take advantage of the low price of natural gas."
Customers continue to save money due to lower natural gas prices. Today, average PECO customers are paying the lowest price for natural gas in 15 years.
"The energy picture for Pennsylvania is very clear – we have an abundant supply of natural gas and residents and businesses across the state want access to this lower-cost fuel," said Pennsylvania Public Utility Commission Chairman Gladys M. Brown. "The PUC has challenged utilities to help make the process of switching to natural gas easier and more affordable for consumers, and programs like PECO's Smart Natural Gas Conversion are an important part of Pennsylvania's continuing energy success story."
In 2016, PECO completed 10 neighborhood projects to expand natural gas service with 9 more currently scheduled. For this specific project, more than 40 customer properties will have natural gas initially installed, with the opportunity for additional customers to convert in the future. The project will begin in December and will complete during the spring of 2017.
Based in Philadelphia, PECO is an electric and natural gas utility subsidiary of Exelon Corporation (NYSE: EXC). The company's 2,500 dedicated employees provide advanced, innovative energy solutions to 1.6 million electric and more than 511,000 natural gas customers in southeastern Pennsylvania. In 2015 PECO delivered 86.9 billion cubic feet of natural gas and 38 billion kilowatt-hours of electricity. 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. 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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