PECO Electric, Gas Rates Decrease

Rates have decreased for electric and gas customers.

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

PECO customers with electric and gas service have seen the prices decrease.

Starting December 1, the gas and electric rates decreased enough to equal several dollars on the average bill, according to notices sent to customers.

The electric rate for the average residential customer will drop by $5.47 per month, which equals 4.1 percent.

The gas rate will decrease by $18.09 per month for the average customer, which equals 9.4 percent.

“It’s really anticipated that the cost of natural gas will continue to decrease and eventually will stabilize in the next few years. That’s really due to increased domestic production and lower overall demand,” PECO spokesperson Greg Smore told WHYY News.

PECO’s gas and electric rates also dropped in the previous quarter.

For assistance, customers can consider the state’s Low-Income Home Energy Assistance Program (LIHEAP), which helps low-income people struggling with energy costs.

In the Keystone State, customers have the option to select their electricity supplier, considering factors like cost or renewable energy sources, and can also choose their natural gas provider.

The Pennsylvania Utility Commission’s PAPowerSwitch and PAGasSwitch websites offer vital resources for consumers and small businesses about shopping for supply services. The websites allow for the comparison of supplier offers with the standard service rates of local utilities.

The Pennsylvania Utility Commission provides the below tips on energy usage for the winter months:

Pay attention to the thermostat – Every degree you raise or lower the temperature could impact energy costs by up to 3 percent.  Also, consider a programmable thermostat to automatically lower temperatures while you are away from home.

Have your furnace serviced – Regular furnace maintenance along with clean air filters help ensure efficient operation of your heating system.

Insulate and seal leaks around your home – Adding insulation, installing storm windows and doors, and sealing cracks and air leaks can help you stay warmer and use less energy.

Install or repair ceiling fans in high-traffic rooms – Many people can reverse the direction of ceiling fans to clockwise to produce an updraft and move warmer air near the ceiling downward, keeping the room and you warmer.

Consider resetting your water heater thermostat – Water heaters are the second highest source of energy usage in the home, and many people have the thermostat on their water heater set too high.  Setting the temperature on your water heater a few degrees cooler can help save money on your energy bills.

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