Peco electric rate increase scaled back
Peco Energy Co.'s residential electric rates will increase on April 1, but by less than the Philadelphia utility had previously estimated.
Peco Energy Co.'s residential electric rates will increase on April 1, but by less than the Philadelphia utility had previously estimated.
The price-to-compare, which is adjusted quarterly to reflect changes in commodity prices, will increase from 9.92 cents to 9.99 cents, less than 1 percent. Peco had earlier projected that the price would increase to 10.16 cents, but Peco spokeswoman Cathy Engel said wholesale prices have moderated. Peco passes the cost of electricity on without markup.
The increase won't apply to customers who have chosen alternative electrical suppliers. And Peco's distribution charge, which all customers pay regardless of who generates their power, remains unchanged. - Andrew Maykuth