PECO said on Thursday it has recincided its request to increase electric and natural gas rates in 2027.
The proposed hikes stirred lawmakers and caused public outcry to call out the company for its request to the state utility commission last month.
On March 30 PECO filed the request seeking to raise electric rates by 12.5 percent and natural gas rates by 11.4 percent.
PECO said it cancelled the request and said “reflects a deliberate effort to prioritize customer affordability while continuing to deliver safe and reliable service.”
Both political parties called out PECO for the proposed hikes pushing back hard at a time where economic anxiety is high, experts say.
Bucks County Democrats hours after the rate request was submitted to the Public Utility Commision circulated a petition to the public pushing back on price increases a little more than two weeks ago
“While our filing with the PUC would have provided needed improvements in safe and reliable energy delivery, we recognize that Pennsylvanians are struggling with basic necessities like gas, food, and energy and have decided to withdraw our proposal. We look forward to working with stakeholders across the region to find long-term solutions to high energy costs and to make needed investments at another time,” David Vahos, PECO president and CEO said in a statement Thursday.
Bucks County Democratic lawmakers – state Reps. Tim Brennan, D-Doylestown, Tina Davis, D-Bristol, Brian Munroe, D-Warminster, Jim Prokopiak, D-Falls, and Perry Warren, D-Newtown, applauded the decision in a release to Lower Bucks Source.
“Today, elected officials and everyday Pennsylvanians can stand together knowing their voices were not only heard, but truly listened to. Our delegation is thrilled that PECO backed down from its proposal, and we are incredibly proud of the Bucks County residents who signed the petition, stood with their neighbors, and made their voices count. We fight for working families, lower costs and the people of Bucks County,” they said. “We also extend our thanks to Governor Josh Shapiro for his support — without his leadership, this outcome would have been far more difficult to achieve.”
Bucks County State Reps. Tim Brennan, D-Doylestown, Tina Davis, D-Bristol, Brian Munroe, D-Warminster, Jim Prokopiak, D-Falls, and Perry Warren, D-Newtown, applauded PECO’s decision to rescind its proposed rate hike.
Bucks County Republicans called it a “big win ” for consumers.
State Senator Frank Farry said “We understand that an improved and reliable grid is critical to the success of our community, but a rate increase right now is unacceptable.”
Farry, along with along with PA State Rep. Kathleen “KC” Tomlinson, PA State Rep. Kristin Marcell, PA State Rep. Shelby Labs, and PA State Rep. Joe Hogan, said, at a time when everyone is feeling the squeeze, this is a major victory for our community!
Although both political parties are claiming the victory as their own, the real winners are PECO customers and their families.
The rate hike request came after PECO reported $814 million in profit last year
Recent Comments