News Stories
Sponsored by Earth Etch. Regulatory insight and compliance solutions for today’s energy markets.
PUC Approves Smaller Than Requested Rate Changes for PECO’s Electric and Natural Gas Distribution Services
Excerpts from Pennsylvania PUC Press Release:
{***} The Pennsylvania Public Utility Commission (PUC) today approved smaller than requested rate changes by PECO Energy Company (PECO) for both electric and natural gas distribution services. The rate requests were filed on March 28, 2024.
PECO – Electric Division
The Commission voted to approve a modified Joint Petition for Non-Unanimous Settlement (joint petition or settlement) reducing the company’s requested increase in annual operating revenues from approximately $464 million to $354 million – a 23.7% reduction – as well as significantly lowering PECO’s proposed increase in its monthly distribution customer charge, which will now increase $0.75 per month (7.1%) versus a proposed monthly increase of $3.78 (36%).
Additionally, the settlement enables PECO to apply a one-time surcharge credit of approximately $64 million in 2025. Under the settlement rates, and including the one-time surcharge credit in 2025, the monthly bill for a residential customer using 700 kilowatt hours (kWhs) per month will increase by $13.58, from $135.85 to $149.43 (10%), including default service generation, taxes and other surcharges. In 2026, the bill for this customer will increase by an additional $2.70 per month, from $149.43 to $152.13 (1.8%), including default service generation, taxes and other surcharges.
Press Release (12/12/2024)
