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PECO Electricity Rates Jump 21.5 Percent Monday

Will remain at new rate through 2012.

 

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/.

Related Topics: PECO rate increase

bob paskill

6:11 pm on Monday, October 1, 2012

i'd like to see what their profit was this year , while the rest of us our losing money,,,,it's all bullshit

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LF Resident

6:45 pm on Monday, October 1, 2012

Do a search for Peco Income Statement
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.

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Alex Rendon

7:07 pm on Monday, October 1, 2012

Take a look at this website for cheaper rates www.napower.com/189108

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Alex Rendon

7:09 pm on Monday, October 1, 2012

Dear valued customers
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

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Lisa Coll

7:39 pm on Monday, October 1, 2012

North American Power is definitely the way to go. Who else gives you $50 to $100 just for trying them out one billing cycle, and continues to pay you for helping your friends and family save. There are no sign up fees and no cancellation fees if you decide to cancel. I looked around for a long time and found North American Power to be the best www.NAPower.com/197908

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Tom Bartman

7:51 pm on Monday, October 1, 2012

This is not just PECO. For anyone paying attention over the past 2 years, the implementation of smart meters for the so-called 'green' grid and increased regulations/burden on utilities -- what do you think is going to happen to your bill?

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

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Kelly

8:13 pm on Monday, October 1, 2012

After reading this article I would like to inform all of you to BEWARE!! I have been in the process of switching over my residential and commercial status to another supplier for the past 3 months!!! Although the process should be very easy, I learned the hard way that MOST of these companies ( I won't list names as that is not my intent) are multi level marketing companies AKA. Pyramid Schemes where the people are trying to make a quick buck and frankly couldn't care less about you after you sign up. Thankfully all of my stores and my home are now fully converted and I feel like I made a great decision thanks to a co-worker of mine linking me up with a representative for Option One Energy. I wish I had more information or the contact info for the company to post for you all, but all I have is the email address listed below as he is the guy that I used. Anyway, good luck in your transitions , but again be sure to do your homework and DON'T go with the multi level crap like I did... You will get the run around so THEY can get a buck!! Sorry for the rant ;)

Info for the guy I used: Eric@optiononeenergy.com
Name : Eric Walker

Good Luck All,
Kelly R. ( Horsham PA)

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Sugaree

10:46 pm on Monday, October 1, 2012

Wow. Trolls for energy suppliers. Do you think we're that stupid?

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Tom Bartman

11:02 pm on Monday, October 1, 2012

Transmission and distribution is over PECO's infrastructure regardless of who you choose. The same poles and wires deliver your power. The difference is in billing.

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SMYRNA-X

4:45 am on Tuesday, October 2, 2012

I was wondering if I could get a 21% raise at work. Peco states raise is based on commodity prices. What would make thier costs go up? Perhaps a failing national energy policy, lack of development of energy sources- nuclear, fracking, keystone, coal. This only the beginning. Expect high rates to come. Then expect govt "help" for the poor and elderly, which will spill to the middle class. This govt will further support higher costs, costing our taxes to increase. Obamas socailist paradise.

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nashay

7:47 am on Tuesday, October 2, 2012

I can help with that contact me nashay3 twitter

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Roman Gabriel

9:04 am on Tuesday, October 2, 2012

Lets get to the real problem : career Phila. poltician Allyson Schwartz. Can anybody tell me what she does ? Ms schwartz is a two faced lying pig who wlll do or say anything to get reelected. Anybody who thinks that part of this increase isnt wealth redistribution is being naive. We are going to be paying more to Peco, so that they can "give more " to those that dont pay there bill.

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Lee

1:31 pm on Wednesday, October 3, 2012

Joe Rooney, very impressive, is opposing her. p.s. she and her progressive legion of planners and connected elites are social engineering sweet innocent Jenkintown via training at First Suburbs group and Build One PA, an arm of Build One America which is only 4 yr old non profit from Chicago. You can read their websites and see the same language popping up in every older boro or township re: "revitalization". It is a density and regionalism planning using TIF and grants. Hardly any residents or tax payers go to town or township meetings these days, so planner types have free reign to plan away.

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Dot

11:50 am on Thursday, October 4, 2012

It's amazing that no one knows what her DC record is, and they don't care! All they know is that her "constituent services" are great. She has wonderful folks working at her local office who bend over backward to help. I called to find out her stance on several issues and each time I was told, "She has made no public statement." Unless she makes a public statement/issues a press release, no one can find out her stance or how she would vote! Months ago she made a big deal out of pushing to repeal the Independent payment Advisory Board in Obamacare. When the vote was taken, she voted "NO" . Votes for her are out of habit. Joe Rooney is wonderful!

Bill MOrgan

9:06 am on Tuesday, October 2, 2012

Don't forget..PECO was purchased by Exelon years ago, therefore Exelon makes the money on generation while PECO is only responsible for distribution and are required to buy electricity at the "Grid Rate" supplied by PJM..(I'd love to see how that is calculated). So not only did we the consumers pay for the Limerick Power Plant through PRCO/Exelon"s "stranded asset program" approved by our oversized "full time legislature" (which is in session about 60 days a year), PECO/Exelon has also eliminated the RH and off-peak discounts..theoretically over 3 years as approved but in effect over 1 year. So shop around consumers..I just got an ad in the mail from PPL for $0.0725 per kWh guaranteed for 6 months , but go to the website PaPowerSwitch to find out what works for you, and be aware that PECO will drag its feet allowing you to make your switch

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Karl

9:42 am on Tuesday, October 2, 2012

I have already switched, with no contract (cancel at anytime) to a .079 per kilowatt hour plan, and use 1300 kilowatt hours a month. That's a savings of about $34.00/mo. Without pushing or recommending a particular company, several have great offers through a site I used called alphabuyer.com. I have nothing to do with the site or selling energy, and they have more than just electricity rates as well.

PECO has also terminated RH rates (residential heating).

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Dresher Mom

9:55 am on Tuesday, October 2, 2012

We switched to Verde last year. The rate is FIXED, there's no contract, and I think we got a $50 check for switching after 2 months of service. I'm pretty sure the rate is .0899, but it might be lower... definitely no more then that as I remember it was 8 something.

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MikeAmbit

4:25 pm on Tuesday, October 2, 2012

I sell for Ambit Energy. The current 12 month rate for PECO customers is .078. No contract, no fees. If Ambit's rate drops during that 12 months you can switch to the lower rate. http://tuskey.myambit.com

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Brian Mavs

2:16 pm on Thursday, October 4, 2012

Ambit is MLM Garbage!!!! .078 is a horrible rate. Like a guy said up there, a MLM is for the people making money and not taking of the consumer. the money comes from some where which is usually reflected in the price! troll

gmanmc23

12:49 pm on Wednesday, October 3, 2012

They really care of their customers. Great time to raise rates PECO. Kick us while we're down.

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tk69

4:18 am on Thursday, November 1, 2012

IT its time to privatize the infrastructure. WHat you need is competition, and utilities owned by the consumers, not a government subsidized monopoly.

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