PECO has submitted a request to the Pennsylvania Public Utility Commission seeking approval to adjust its energy delivery rates for electric and natural gas to expand the company’s investment in its local electric and natural gas infrastructure and to enhance programs and services for customers. These investments are critical to meet the increasing energy needs of customers, expand services and programs related to energy assistance and electric vehicles (EVs), and to provide the level of service customers have come to expect.
The request, which was submitted on March 28, 2024, as two filings, is part of PECO’s increased efforts to deliver safe and reliable energy service to its 1.7 million electric and more than 552,000 natural gas customers and to meet the region’s future energy needs. These planned investments will enable PECO to further improve service reliability, increase electric grid resiliency and reduce the impacts of severe weather, expand programs to support customers who may be struggling financially, and help customers embrace cleaner energy options.
As part of the request, PECO would recover an additional $464 million for its electric investments, which would be offset by a $64 million credit in 2025. The company also would recover an additional $111 million for its natural gas investments. PECO’s significant infrastructure investments, including the $9.3 billion the company plans to spend over the next five years, have helped deliver record electric reliability and continued replacement of existing natural gas mains and service lines with new plastic pipe enhances safety, improves service, and reduces methane emissions.
The proposal requests funding to:
• Maintain and enhance the safety and reliability of PECO’s electric and natural gas systems and help ensure the company can continue to meet the growing demand for energy in southeastern Pennsylvania.
• Expand support for low-income customers, including extending the reach and impact of energy assistance programs that help the region’s most vulnerable households.
• Further enable the grid to accommodate the expanding digital and electrified world; including EVs, solar interconnection, battery storage, and other technologies that will help meet customers’ evolving energy needs and expectations.
Based on the current proposal, a typical PECO residential electric customer would see a monthly bill increase of $16.67 or 12.3% per month in 2025, and an additional $2.70 or 1.8% increase in 2026. A typical residential natural gas customer would see a $16.15 or 16.5% increase per month. If approved, the newly proposed rates would take effect on January 1, 2025.
PECO has the highest customer assistance program participation in the state to help customers manage their energy bills. Income-qualified programs are available to help customers with past-due balance forgiveness, energy efficiency measures, hardship grants, and referrals for other services. The company also helps connect customers with programs that provide grant assistance for outstanding balances, like LIHEAP. For more information about assistance programs, customers can visit peco.com/help.
PECO’s infrastructure projects are important to the local economy and play a key role in the company’s efforts to be a partner in Pennsylvania’s sustained economic development. Investments in energy infrastructure improve service for customers while also driving economic development and job creation in the local economy. In addition to these benefits, PECO’s broader economic impact is felt across southeastern Pennsylvania and beyond.
To learn more about the filings visit peco.com/rates or call 1-800-494-4000.
