PECO Announces Further Price Cuts

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Image of a PECO worker via Pete Bannan, Digital First Media.

More good news is coming from PECO, as the energy company has announced further price cuts, beginning on June 1, writes Andrew Maykuth for the Philadelphia Inquirer.

PECO’s customers have already been paying less for their electricity over the last six years, since competitive market rates took effect. In competitive markets like Pennsylvania’s, retail customers have the option of shopping for a supplier that can sometimes cut their bills in half.

PECO’s standard rate for residential generation supply fell to 7.16 cents per kWh on March 1, down by 27 percent from 2011. Starting June 1, the price will drop an additional 2.5 percent to 6.98 cents per kWh.

“The competitive energy market and the benefits of clean, affordable, and local natural gas are leading to big savings for our customers,” said Craig Adams, PECO’s president and chief executive.

For those looking to save a bit more, there is the option to use PECO’s Smart Energy Choice program, in which customers are steered by PECO toward a participating supplier. They then deliver power for 12 months at a fixed rate that is seven percent below PECO’s current price-to-compare and with no cancellation fees.

Read more about the price cuts in the Philadelphia Inquirer by clicking here.

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