PECO Makes Switching to Natural Gas More Affordable for Customers

New plan provides enhanced programs and incentives to help
customers take advantage of low natural gas prices

PHILADELPHIA–(BUSINESS WIRE)–The PAPUC today approved PECO’s plan to expand natural gas service to
meet growing customer demand. The plan, filed in November 2014, includes:

  • A change in how the customer credit is determined to reduce the
    upfront cost of establishing natural gas service for customers.
    Customers will now receive a larger credit based on their natural gas
    usage. This expanded credit will be available to customers beginning
    October 5.
  • A pilot program to reduce the cost of extending natural gas mains to
    neighborhoods where natural gas is not currently available. The pilot
    will begin in early 2016. Customers can learn more about the program
    at peco.com/gasconversion.

“We continue to find new and innovative ways to provide safe and
reliable energy solutions to our customers. Expanding natural gas
service is part of those efforts,” said Craig Adams, PECO president and
CEO. “With natural gas prices at their lowest point in years, this plan
will help to meet the increased demand for natural gas service and
provide cost-effective ways for more customers to take advantage of the
many benefits of natural gas.”

Customers continue to save money due to lower natural gas prices. Today,
average customers are paying about 50 percent less for natural gas than
they did in 2008. Lower natural gas prices also have reduced the cost of
electric generation – saving residential PECO natural gas and electric
customers about $1,000 a year.

“Today’s action is another in a series of positive steps designed to
afford Pennsylvania citizens every reasonable opportunity to avail
themselves of the numerous benefits of natural gas,” said Pennsylvania
Public Utility Commissioner Pamela Witmer. “I reiterate my enthusiastic
support for these proposals, and I continue to challenge other natural
gas distribution companies to consider ways in which they can bring this
homegrown fuel source to more Pennsylvania consumers.”

In addition to these new programs, other natural gas energy efficiency
and incentive programs include:

  • PECO Smart Natural Gas Conversion offers rebates up to $200 for
    residential and up to $1,000 for commercial customers that switch to
    natural gas from another fuel source. This rebate is in addition to
    other credits also provided by PECO.
  • PECO Smart Gas Efficiency Upgrade provides up to $300 in rebates for
    customers installing ENERGY STAR® qualified natural gas furnaces or
    boilers.

Based in Philadelphia, PECO is an electric and natural gas utility
subsidiary of Exelon Corporation (NYSE: EXC).
PECO serves 1.6
million electric and more than 506,000 natural gas customers in
southeastern Pennsylvania and employs about 2,400 people in the region.

PECO delivered 89.9 billion cubic feet of natural gas and 37.5
billion kilowatt-hours of electricity in 2014.
Founded in 1881,
PECO is one of the Greater Philadelphia Region’s most active corporate
citizens, providing leadership, volunteer and financial support to
numerous arts and culture, education, environmental, economic
development and community programs and organizations.
For more
information visit
PECO.com,
and connect with the company on
Facebook
and
Twitter.

If you are a member of the media and would like to receive PECO news
releases via email, please send your email address to
PECO.Communication@exeloncorp.com.

Contacts

PECO
Greg Smore, 215-841-5555
Greg.Smore@exeloncorp.com