PECO requests increase in natural gas rates
PECO, which provides energy for the Philadelphia region, has proposed an $82 million increase in natural gas distribution rates to support significant investments in infrastructure and programs to help customers save energy.
With the proposed increase, a typical PECO residential customer would see a monthly bill increase of about $12.39, or 13 percent. Further, a typical PECO small business customer would see a monthly bill increase of about $30.85 or 7.3 percent. If approved by state regulators, the new natural gas distribution rates would take effect on January 1, 2023.
Specifically, PECO is proposing to invest more than $300 million per year on targeted, critical infrastructure to modernize and enhance the natural gas system in southeastern Pennsylvania. The proposal will also help the company meet its emission reduction goals by replacing existing natural gas lines with new plastic pipes. Further, it would increase energy efficiency programs by $500,000 to benefit income-eligible customers through the safe and efficient heating program and certain rebates. Also, it includes an additional $500,000 for the small business grant program as well as investments to improve customer safety.
“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,” PECO President and CEO Mike Innocenzo said. “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.”
PECO has programs to help qualified customers facing financial challenges manage their energy bills. It also has programs to help customers pay down outstanding balances through grants. Customers can find more information about financial assistance programs at www.peco.com/help.
PECO delivers energy to more than 1.6 million electric customers and more than 540,000 natural gas customers in southeastern Pennsylvania.
