Natural gas system investments focus on maintaining safety and reliability

PHILADELPHIA, PA (October 27, 2022) — Today, the Pennsylvania Public Utility Commission (PUC) approved PECO's filed settlement agreement for a $54.8 million increase in natural gas distribution rates. The rate increase will 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. The new natural gas distribution rates will take effect on January 1, 2023. 

The rate increase provides funding to:  

• Invest, on average, more than $300 million per year on targeted, critical infrastructure to modernize and enhance the natural gas system to continue delivering safe and reliable service and meet the growing demand for natural gas in southeastern Pennsylvania. Support PECO's Path to Clean emission reduction goals by completing projects to replace existing natural gas lines with new plastic pipe, which enhances safety, is more durable, improves service, and reduces methane emissions.  
• Offer an additional $500,000 small business grant program providing a natural gas bill credit of $500 to qualifying small businesses.  
• Expand support for low income customers with more funding for LIURP and MEAF programs.
• Enhance residential natural gas customer safety and awareness by distributing a safety package, including printed educational materials and a natural gas safety device, such as a methane gas detector, to certain customers including new residential customers.  
  

"We are committed to delivering safe, reliable, affordable, and clean natural gas service for our customers across southeastern Pennsylvania and are pleased to have arrived at a balanced settlement with our stakeholders," said PECO President and CEO Mike Innocenzo. "We know bill increases of any kind can be tough and recognize prices are higher overall nationwide, however, the investments included in this filing will support our commitment to providing the critical energy service our customers rely on every day." 

Based on this PUC-approved settlement, the average residential customer bill would increase approximately $8.56 per month, or approximately 9 percent. The average small commercial customer bill would increase by about $20.30 per month, or approximately 4.8 percent. 

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.  

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PECO, founded in 1881, is Pennsylvania's largest electric and natural gas utility. Headquartered in Philadelphia, PECO delivers energy to nearly 1.7 million electric customers and more than 545,000 natural gas customers in southeastern Pennsylvania. The company's 2,800 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.