Effective December 1, PECO customers not receiving their energy from a competitive energy supplier will see lower rates for the electricity and natural gas they use. The electricity or natural gas used by customers – or the supply charge – makes up about half of a residential customer’s total bill. PECO updates this charge, which is included in the Price to Compare (PTC), every quarter as market prices change. The PTC is the price customers can use to evaluate offers from competitive energy suppliers, and the charges are passed along directly to customers at the exact cost PECO pays.
Electric
The new residential Price to Compare will decrease 8% to 8.917 cents per kWh. The monthly electric bill for an average residential customer will drop by $5.47 per month, or by about 4%. This rate is also one of the lowest among Pennsylvania electric distribution companies and marks the second consecutive quarterly decrease in electric supply rates for PECO customers.
Natural Gas
The new residential Price to Compare will decrease 29% to 38.5 cents per Ccf. The monthly natural gas bill for an average residential customer will decrease by $18.09 per month, or by about 9%.. This change marks the fourth consecutive quarterly decrease in natural gas supply rates for PECO customers.
“The impacts of inflation and increased costs of everyday goods and services are top of mind for our customers, and we are so pleased to be able to lower these rates ahead of the winter season,” said Kelly Colarelli, PECO vice president of customer operations. “We will continue to work hard to control costs, reduce volatility and purchase electricity and natural gas at the lowest price possible for customers.”
There are many ways customers can gain control over their energy use and costs to save money.
PECO provides an extensive range of billing and financial assistance programs to help qualified residential customers experiencing economic challenges manage their energy bills. As the seasons change, customers are encouraged to monitor energy usage and take advantage of PECO’s energy efficiency programs. To learn more about PECO’s programs that help save energy and money, visit: www.peco.com/waystosave.
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