PECO residential customers will pay higher electric delivery rates in the new year under the terms of a settlement filed with the Pennsylvania Public Utility Commission.
Overall, energy delivery rates would increase less than four percent beginning Jan. 1, 2016, PECO said. The total monthly bill for a typical residential electric customer using about 700-kilowatt hours of electricity would increase $4.17.
Bills for a typical small business customer would increase by about $17.02 per month, and monthly bills for a typical large customer would increase by $432.32.
The settlement and $127 million rate increase must be approved by the PUC.
PECO said the higher rates will allow it to continue to invest in ongoing system work, including replacing equipment and upgrading infrastructure, enhance customer service and provide support for low-income customers.
“With this funding, we will continue to ensure safe and reliable electric service and develop new helpful programs and services for our customers,” PECO president and CEO Craig Adams, said in a statement. “We appreciate the hard work and cooperation of all involved as we worked together on this necessary increase.”