PECO Customers To See Lower Gas, Electric Rates Starting Friday

PHILADELPHIA — Certain PECO customers will have lower gas and electricity bills starting Friday.

PECO said its customers who do not get 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.

The new residential Price to Compare for electricity will decrease 8 percent to 8.917 cents per Kilowatt hour. The monthly electric bill for an average residential customer will drop by $5.47 per month, or by about 4 percent. 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.

The new residential Price to Compare for natural gas will decrease 29 percent to 38.5 cents per 100 cubic feet. The monthly natural gas bill for an average residential customer will decrease by $18.09 per month, or by about 9 percent. 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."