PECO Completes Third of Four Electricity Purchases

June 24, 2010

Excerps from 

Press Release Source: PECO On Wednesday June 23, 2010, 5:35 pm EDT

PHILADELPHIA–(BUSINESS WIRE)–In preparation for the final transition to a competitive electric market in Pennsylvania, PECO recently completed the third of four planned electricity purchases to serve customers who have not chosen a competitive electric generation supplier beginning Jan. 1, 2011.

Beginning January 1, 2011, the prices PECO and our customers pay for electricity will be based on electric market pricing, after having been capped for more than 10 years. At the same time costs to operate our electric systems also have been increasing. The effect of all of these changes on PECO electric customers will be price increases of about 10 percent. For the typical residential electric customer, the increase is about $8 more per month.

The May 2010 purchases resulted in an energy price of 7.95 cents per kilowatt hour (kWh) for PECO’s residential customers. When combined with 2009 purchases, the May purchases result in a price of 8.91 cents per kWh for PECO’s residential customers, 8.66 cents per kWh for small commercial customers, and 8.63 cents per kWh for medium sized commercial customers.

Because energy prices fluctuate, PECO is buying the electricity needed to serve customers in 2011 at four different times – reducing the risk to customers of purchasing electricity all at one time when market prices could be high. PECO will complete the remaining purchases in September 2010. The results of all four purchases will determine the exact price PECO’s customers will pay for electricity beginning Jan. 1, 2011.

“We continue to be able to purchase electricity at lower wholesale market prices, helping reduce the prices for our customers,” said Denis O’Brien, PECO president and CEO. “And we have programs available to help customers use less energy and save money.”

Our Perspective:

Now we’re getting there. As Peco begins to release information, we will be better able to determine what opportunities for savings exist in the deregulated market.

All we will need is a copy of your latest invoice and a letter of authorization, which allows us to request annual usages on your account from Peco.

HBS is an independent energy management company. We have been providing deregulated savings to our clients for over 10 years. We represent all the major providers looking to sell electric in the Peco territory.

We will define the right provider at the the right price.

To learn more email or call 856-857-1230 

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