PECO drops proposal to increase rates for next year
6abc Philadelphia • • business
Key Points:
- PECO has withdrawn its proposed electric and natural gas rate increases for 2027, citing financial strain on families and businesses in southeastern Pennsylvania.
- The company initially sought a 12.5% increase for electric service and an 11.4% increase for natural gas to fund infrastructure modernization, which would have raised monthly bills by approximately $20 and $14.50, respectively.
- PECO’s decision followed feedback from customers, community partners, and regional leaders, emphasizing a commitment to affordability while maintaining reliable service.
- Pennsylvania Governor Josh Shapiro opposed the rate hikes, urging utilities not to raise rates during challenging economic times, and welcomed PECO’s withdrawal of the proposal.
- Larry Anastasi, president of IBEW Local 614 representing PECO employees, criticized the initial rate hike filings and called for increased regulatory oversight of the company’s spending in Harrisburg.
