For Immediate Release
PHILADELPHIA, PA (March 31, 2022) — In a filing submitted today by PECO, the company requested approval of an $82 million increase in natural gas distribution rates to support significant investments in infrastructure to provide safe and reliable natural gas service and reduce methane emissions. In addition, the filing proposes programs to help customers save energy and money, including low-income customer offerings. If approved, the newly proposed natural gas distribution rates would take effect on January 1, 2023.
The proposal provides funding to:
"This filing is an integral step in our mission to deliver safe, reliable, affordable, and clean natural gas service for our customers across southeastern Pennsylvania," said PECO President and CEO Mike Innocenzo. "We know increases of any kind can be tough and recognize energy supply prices are higher overall nationwide, however, the investments included in this filing will support our commitment to provide the critical energy service our customers rely on."
With the proposed increase, a typical PECO residential customer would see a monthly bill increase of about $12.39, or 13 percent. A typical PECO small business customer would see a monthly bill increase of about $30.85 or 7.3 percent.
This increase would be separate from the current commodity, or supply, cost increases, which are impacting all customers nationwide, whether they use natural gas, electric, heating oil, or propane. These supply charges are passed along directly to customers at exactly the price that PECO pays.
PECO has billing and financial assistance programs to help qualified customers who are facing financial challenges manage their energy bill. PECO also offers additional programs that can help customers pay down outstanding balances through grants. Income-qualified programs are also available to help customers with bill credits, energy efficiency, and referrals for additional services. For more information about financial assistance programs, customers can visit www.peco.com/help.
To learn more about our filings visit peco.com/rates or call 1-800-494-4000.
# # #
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 540,000 natural gas customers in southeastern Pennsylvania. The company's 2,900 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 is a subsidiary of Exelon Corporation (Nasdaq: EXC), the largest fully regulated utility company in the nation with more than 10 million customers. For more information visit PECO.com, and connect with the company on Facebook and Twitter.