Peco prepares for new rates starting in 2011

May 24, 2010

As reported in Northeast Energy update by Direct Energy

PECO Completes Second of Four Electricity Purchases for 2011
In the second of four purchases for the electricity to serve customers beginning in January 2011, moderate wholesale market conditions resulted in lower electricity prices compared to the company’s last procurement in June 2009. 

The September 2009 purchases resulted in a retail energy price of 9.16 cents per kilowatt hour (kWh) for PECO’s residential customers.  When combined, the June and September purchases result in a retail price of 9.41 cents per kilowatt hour (kWh) for PECO’s residential customers—or about a 4 percent increase compared to current prices. 

For the first time, PECO also purchased electricity for 2011 for its small and mid-sized commercial customers.  This recent purchase resulted in a retail price of 9.79 cents per kWh, about the same as current prices for these customer classes.

Because energy prices fluctuate, PECO is buying the electricity needed in 2011 at four different times in an effort to reduce the risk of purchasing electricity all at once when market prices could be high.  PECO will complete the remaining two purchases in June 2010 and September 2010.  The results of all four purchases will determine the price in which PECO’s customers will pay for electricity beginning Jan. 1, 2011 when rate caps expire. 

PECO is estimating an overall increase of 10–15 percent for customers once all procurements have been made.

To find out more information your electric cost beginning in Jan 2011, email george@hbsadvantage.com

6 Responses to “Peco prepares for new rates starting in 2011”

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