Customers can save even more with PECO Smart Energy Choice
PHILADELPHIA–(BUSINESS WIRE)–As of March 1, PECO’s electric rates are the lowest they have been since
the transition to market-based rates in 2011. Because of this, the
typical PECO electric customer is paying about $12 less per month for
their electricity compared to the same time six years ago. Electric
customers across PECO’s service territory continue to see the benefits
of electric competition with many customers saving even more through a
competitive electric generation supplier.
Lower wholesale power prices, driven by electric competition and lower
natural gas prices, are resulting in savings for PECO’s electric
customers. As of March 1, PECO’s residential price to compare was 7.15
cents per kilowatt hour. As a result, bills for the typical residential
customer are about $106 per month.
“The competitive energy market and the benefits of clean, affordable and
local natural gas are leading to big savings for our customers,” said
Craig Adams, PECO President and CEO. “This is money our customers can
put back into their pockets and into the local economy to support
further growth in our region.”
PECO customers not currently shopping with a competitive electric
generation supplier could save even more with PECO Smart Energy Choice.
The program provides a discounted rate to customers who choose to
purchase the electric they use from a participating competitive electric
generation supplier. The discounted rate is 7 percent less than PECO’s
current price to compare for generation charges and is available for at
least one year. Customers who sign up can switch at any time without
exit fees. Customers can sign up by calling PECO at 1-800-494-4000.
Nearly 600,000 PECO customers are purchasing the electricity they use
from a competitive electric generation supplier. Customers who want to
find out more about shopping for electricity can visit peco.com/choice
or the Pennsylvania Public Utility Commission’s website at papowerswitch.com.
Electric commodity costs fluctuate – either increasing or decreasing –
based on many factors including wholesale prices when purchases are
made, the amount of wholesale electricity purchased, the length of
contracts, weather, reconciliation of collections for actual versus
forecasted energy use, and other calculations.
PECO customers also can save with PECO Smart Ideas, the company’s suite
of award-winning energy efficiency solutions. PECO has solutions to help
every customer save energy and money – learn more at peco.com/smartideas.
PECO, founded in 1881, is Pennsylvania’s largest electric and natural
gas utility. Headquartered in Philadelphia, PECO delivers energy
to more than 1.6 million electric customers and more than 516,000
natural gas customers in southeastern, Pennsylvania. The
company’s 2,500 employees are dedicated to the safe and reliable
delivery of electricity and natural gas as well as enhanced energy
management conservation, environmental stewardship and community
assistance. The company also has an estimated annual economic
impact of $4.3 billion in Pennsylvania, supporting more than 8,700 local
jobs and producing $732 million in labor income. PECO is a
subsidiary of Exelon Corporation (NYSE: EXC), the nation’s only Fortune
100 utility and leading competitive energy provider. For more
information visit PECO.com,
and connect with the company on Facebook
215-841-4137 or 215-841-5555