Pennsylvania PUC approves new rates for PECO gas customers
The Pennsylvania Public Utility Commission (PUC) approved the settlement agreement that PECO, which serves the Philadelphia region, filed for a $54.8 million increase in natural gas distribution rates.
The increase will support infrastructure investments to provide reliable natural gas service and reduce methane emissions. Specifically, the company has invested more than $300 million annually to modernize and enhance the natural gas system to continue delivering safe and reliable service and reducing emissions. Among the projects, PECO replaced existing natural gas lines with new plastic pipes.
It also offered a $500,000 small business grant program that provides natural gas bill credit of $500 to qualifying small businesses. The filing also highlights various programs to help customers save energy and money, including low-income customer offerings.
“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,” PECO President and CEO Mike Innocenzo said. “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.”
With the PUC-approved settlement, the average residential customer bill would increase by approximately $8.56 per month or roughly 9 percent. The average small commercial customer bill would increase by about $20.30 per month or approximately 4.8 percent. The new natural gas distribution rates will take effect on Jan. 1, 2023.
PECO has billing and financial assistance programs to help qualified customers who are facing financial challenges manage their energy bills. Further, PECO offers additional programs that can help customers pay down outstanding balances through grants. For more information about financial assistance programs, go to www.peco.com/help.
