PHILADELPHIA (WPVI) — PECO introduced Thursday it has withdrawn its proposal to elevate electrical and pure gasoline rates for next year.
In an announcement, the electrical firm mentioned, “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.”
PECO proposed the speed hikes in late March.
The firm steered a 12.5% bump for electrical service and an 11.4% increase for pure gasoline beginning in 2027. The firm mentioned that will equate to about $20 extra a month for electrical and $14.50 extra a month for gasoline.
PECO mentioned it initially proposed the speed hike to cowl infrastructure enhancements. The firm defined the filings have been supposed to assist close to and long-term electrical and pure gasoline modernization.
But the corporate now says, “After listening closely to customers, community partners, and leaders from across the region… 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.”
Action News spoke with Pennsylvania Governor Josh Shapiro, who mentioned he was in opposition to the speed hikes. He made that recognized to PECO.
“Every utility should be on notice this is not a time to be raising rates on customers in Pennsylvania,” Gov. Shapiro mentioned.
Reacting to Thursday’s announcement, he added, “I appreciate that they heard us on that and withdrew their case today and didn’t raise rates on consumers.”
Larry Anastasi is the president and enterprise supervisor of IBEW Local 614, which represents about 1,500 PECO staff. He mentioned his union filed in opposition to PECO’s 2025 charge increase. It was additionally planning to file in opposition to the proposed 2027 increase.
“How is it that they even could have considered filing for a rate increase?” Anastasi questioned.
“A lot more regulation needs to be done in Harrisburg,” he added. “There needs to be way more looking into the spending that they are doing right now.”
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