PHILADELPHIA (KYW Newsradio) — PECO customers are getting some relief amid the nationwide affordability crisis, as the utility company is dropping its bid for a rate hike.
The announcement that it was dropping its request to the Public Utility Commission (PUC) came Thursday after pushback from local and state lawmakers, and the electric workers union.
In a statement, PECO said it changed course after conversations with Governor Josh Shapiro, Mayor Cherelle Parker, City Council President Kenyatta Johnson, and other stakeholders.
The statement also said in part that PECO recognizes “keeping bills as low as possible must be the priority right now.”
“Families and businesses across southeastern Pennsylvania are under real financial strain from rising everyday costs,” it continued.
Read PECO’s full statement to KYW Newsradio below:
“We recognize that families and businesses across southeastern Pennsylvania are under real financial strain from rising everyday costs, and keeping bills as low as possible must be the priority right now. After listening closely to customers, community partners, and leaders from across the region, including Governor Shapiro, Mayor Parker, Council President Johnson, and others, PECO has made a timing‑based decision to withdraw our electric and natural gas rate review filings. This decision reflects our commitment to affordability while continuing to deliver safe, reliable service and maintaining strong engagement with the Pennsylvania Public Utility Commission, as outlined in today’s news release.”
The requested rate hike would have amounted to approximately an additional $30 a month owed by households.
State legislators from both sides of the aisle praised the move. State Rep. Morgan Cephas, who represents parts of West Philadelphia, pointed to the role petitions from Philadelphians played, and said the increases could have been “a breaking point for families across Philadelphia.”
The decision by PECO also comes after IBEW Local 614, which represents PECO’s electrical workers, filed a motion with PUC challenging the need for a rate hike.
Union president Lawrence J. Anastasi said the union also challenged rate hikes last year.
“There's no regulatory oversight. They're spending money on very questionable things. The infrastructure that we see is falling apart,” said Anastasi. “It's dangerous for the worker and the public, and then the CEOs are making huge bonuses.”
PECO and the IBEW are in negotiations to replace a contract that expired last month.The rate hike would have added about $30 a month to household bills.
The rate hike would have added about $30 a month to household bills.
