Case: R-2022-3031113
Initial Filing Date: 4/1/2022
Summary: 9.0% Residential, 4.8% Commercial
Effective Date: 1/1/2023
Status: Settled
Type: Gas
On 10/27/2022, The Public Utility Commission of Pennsylvania approved an increase in base rate revenues of $54.8 million (6%) to Peco Energy. This is a nearly 33% reduction from PECO’s initial request of $81.2 million (9.1%). Under the settlement, the bill for a typical PECO residential natural gas customer using 80 hundred cubic feet (CcF’s) per month will increase by $8.57 (or 9.0%), from $95.31 to $103.88 per month – as compared to PECO’s initial request, which would have increase that same average residential bill to $107.70 (13%). New rates become effective 1/1/2023.
The rate increase provides funding to:
* Invest, on average, more than $300 million per year on targeted, critical infrastructure to modernize and enhance the natural gas system to continue delivering safe and reliable service and meet the growing demand for natural gas in southeastern Pennsylvania. Support PECO’s Path to Clean emission reduction goals by completing projects to replace existing natural gas lines with new plastic pipe, which enhances safety, is more durable, improves service, and reduces methane emissions.
* Offer an additional $500,000 small business grant program providing a natural gas bill credit of $500 to qualifying small businesses.
* Expand support for low income customers with more funding for LIURP and MEAF programs.
* Enhance residential natural gas customer safety and awareness by distributing a safety package, including printed educational materials and a natural gas safety device, such as a methane gas detector, to certain customers including new residential customers.