PECO: Electric Prices Up, Natural Gas Down

PECO bills will have new rates this month.

PECO crews in New Hope Borough. File photo.
Credit: Charlie Sahner/New Hope Free Press

PECO’s electric price has slightly increased, while the natural gas price has decreased.

Starting Thursday, PECO’s natural gas energy supply charges decreased 12 percent to 54.211 cents per Ccf, according to the company.

PECO said the change will reduce the average bill by $7.90 per month or about 7.1 percent.

The energy supplier said the reduction in natural gas supply charge is the fourth consecutive quarterly price decrease.

The natural gas supply charge makes up about half of customers’ total bills.

“We know our customers are counting on us to deliver safe and reliable electricity and natural gas,” said PECO Senior Vice President and Chief Customer Officer Funmi Williamson. “We will continue to work hard to control costs, reduce volatility and purchase electricity and natural gas at the lowest price possible for customers.”

The electric price for customers will rise .586 cents per kWh or 6 percent to 10.312 cents per kWh.

“The monthly electric bill for an average residential customer will increase by $4.84 per month, or by about 3.65 percent. This new supply rate is one of the lowest among Pennsylvania electric distribution companies,” a PECO statement said.

PECO blamed the increase on “some lower priced electric supply contracts have expired and were replaced with new contracts with higher rates due to current market conditions.”

PECO urges customers to monitor energy usage and use PECO’s energy efficiency programs. The company offers billing and financial assistance programs to customers in need.

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