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PECO Energy files for $82M distribution rate increase

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PECO Energy files for $82M distribution rate increase

PECO Energy Co. on March 29 requested the Pennsylvania Public Utility Commission to approve an $82 million, or 2.2%, annual increase in electric distribution rates.

The increase is based on a proposed 10.95% return on common equity, and includes the impact of a $71 million reduction beginning in 2019 as a result recent federal tax reforms. The increase in rates will help the Exelon Corp. utility to invest in infrastructure and technology upgrades.

A residential customer using an average of 700 kWh will see an increase of $3.28, or 3.2%, on a monthly basis.

In the same filing, PECO sought permission to return to customers approximately $68 million in savings associated with the recent tax law, which would offset the proposed increase to electric delivery revenues.