At PECO, we are committed to providing our customers with safe, reliable service and are constantly exploring new avenues to achieve this goal. To further our innovation efforts and the significant investments in infrastructure, the company requested approval of a $246 million increase in electric distribution rates to support the work needed to enhance the local electric grid as well as enable the advancement of clean technologies. In addition, the filing proposes customer relief offerings for eligible residential and small business customers. If approved, the newly proposed electric delivery rates would take effect on January 1, 2022.
The proposal provides funding to:
- Invest more than $3 billion between 2019 and 2022 in electric distribution infrastructure to make the local energy grid stronger and more resilient, enhancing service and delivering safe, reliable, and clean energy for customers. This proactive work is critical to reducing the impact of extreme weather on infrastructure and ensuring enhanced service for our customers. This ongoing work continues to benefit customers in terms of reducing the frequency of outages and their duration when they cannot be prevented.
- Provide $2.7 million in bill relief for eligible residential customers who have received a federal COVID relief grant or are living with a household member who has experienced unemployment since the pandemic.
- Offer bill credits totaling $1 million to qualifying small businesses located in low-income communities that have demonstrated a financial hardship caused by the pandemic.
- Expand public Electric Vehicle (EV) charging infrastructure with $1.5 million of incentives to support commercial, industrial, and public transit customers with early EV deployments, with a focus on reducing emissions in disadvantaged communities.
If this filing is approved in full, a typical PECO residential customer would see a monthly bill increase of about $9.68 or 9.65 percent. A typical PECO small business customer would see a monthly bill increase of about $44.74 or 5.49 percent.
Learn more about PECO’s electric regulatory rate review, as well as the company’s commitment to reliability from Steve Singh, PECO’s vice president of Technical Services.
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