PECO Is Withdrawing Rate Increase Request
by Alex Lloyd Gross
With a plethora of bad public relations and resentment from just about every corner of their servicing area, PECO announced they will not seek an additional 12.5% increase for residential electric customers and 11.4% for residential natural gas customers for a combined cost of $429 million.
The fact that PECO was just granted a rate increase of 10% for electric service and 12.5% for natural gas in January 2025, Many customer complained about fiscal mismanagement at the utility when the newest rate increase was announced.
Politicians on both sides of the aisle weighed in on the negative impact this rate increase would have on working families.
“We understand that an improved and reliable grid is critical to the success of our community, but a rate increase right now is unacceptable,” said State Senator Frank Farry (r) Bucks. “Increasing electric costs by 12.5% and natural gas costs by 11.4% would negatively impact the families we represent. We are glad that PECO has decided to withdraw its proposal and is putting affordability first.”