The cost of PECO-supplied electricity jumped 21.5 percent Monday, and will remain at the new rate through the end of 2012, Philly.com reports. That amounts to an increase of $13.95 a month for a customer using 750-kilowatt hours, the site calculated.
The new rate stems from an increased cost of 8.64 cents to 10.5 cents per kilowatt-hour for electricity generation. The rates will not increase distribution charges, and will not affect the approximately 30 percent of PECO customers who have made the switch to competing suppliers since the industry was deregulated last year.
However, new customers of alternative suppliers should check with their company as well to see if there are any scheduled increases. PECO officials have previously stated that the company generates almost all of its revenue through distribution charges and purchases electricity in a marketplace.
A PECO spokeswoman told CBS3 that prices fluctuate quarterly, depending on factors such as changes in commodity costs and under collections from previous quarters. When the rate is again reevaluated for January 1, the rate should drop below 9 cents, PECO said.
To find out about how to switch to a different energy supplier, visit http://www.papowerswitch.com/.
http://finance.yahoo.com/q/is?s=pe-pa Peco always makes money. They pay their stockholders dividends. And don't forget about management incentives Have you ever noticed a Peco work crew on the side of the road? 2 guys working and 8 guys watching? Its like living in Philly and watching the city workers out pretending to do something. And Peco wants us to let them "cycle" our AC units? I don't think so. That's like giving the Fox the keys to the Hen house.... Go for an alternate energy supplier. Cheaper, same service (Peco). No brainer. Ask your friends who have PP&L for an energy supplier how much is their electric bill? A LOT CHEAPER. I have had Peco as an electric supplier for 35 years and my bill always goes up. Went with an alternate energy supplier and its pretty much stabilized and saves me about 12% so far.
I just heard the news that Peco rates are going up 21.5%, starting today. I'm so glad that I recently switch to North American power, not only am I saving money on my electric bill but I'm also earning extra cash while doing so. For more information on switching take a look at my website www.napower.com/189108
This is happening nationwide. Electric rates are spiking mainly because of coal. In 2008, coal produced 49% of electric power in the US. Today that is down to 36%. Remember this? http://www.youtube.com/watch?v=DpTIhyMa-Nw
Info for the guy I used: Eric@optiononeenergy.com Name : Eric Walker Good Luck All, Kelly R. ( Horsham PA)
PECO has also terminated RH rates (residential heating).