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PECO's residential customers will see electricity rate increases next month for electric supply as well as transmission and distribution. For those customers that have not chosen a retail electricity provider for electric supply, electric rates will increase by about 10%, from 8.69 cents per kilowatt hour (kWH) to 9.61 cents/kWh. Delivery and transmission rates will also increase, totaling to a 5.5% overall increase on the average customer's bill that has not switched to a retail electricity provider.
The electric supply rate increase was approved by the Pennsylvania Utility Commission (PUC), the governmental entity that oversees all public utilities in the state. Reasoning for the increase was attributed to balancing out the underestimation of actual electricity costs from last year.
Of the 1.4 million residential electric customers served by PECO, only about 35% have made the switch to a retail electricity provider. Customers can benefit by switching, since many of these providers offer rates well below those of PECO. And as more customers make the switch, retail providers are pushed further to undercut their competition by offering lower rates and more innovative products and services in order to stay profitable and competitive.
Last fall, PECO's supply rates for several counties (Bucks, Chester, Delaware, Montgomery & York) increased by a staggering 21.5%, from 8.64 cents/kWh to 10.5 cents/kWh. These customers could especially benefit from shopping around for a retail electricity provider.
To compare providers that service the PECO territory, use our free Compare & Switch tool at the top of this page. By simply entering your ZIP Code, you can view a list of reputable providers in your area. Once you've selected the best provider and plan for you, make the switch online through the tool or by calling the retail electricity provider of your choice.
Learn more about electric choice in Pennsylvania.