PECO stands for Philadelphia Electric Company and has been in business since 1881. The company is now a subsidiary of Exelon Corporation.
History
PECO is a diversified energy provider, serving over two million customers in the Philadelphia and southeastern Pennsylvania areas. The utility serves 500,000 natural gas consumers and 1.6 million electric customers.
In October 2000, PECO merged with Unicom to form Exelon. Exelon is the largest energy supplier in the United States. It is also recognized as the safest utility in the state by the Department of Labor and Industry.
PE was originally formed in 1902 as Philadelphia Electric Company. PE served Philadelphia for over a century. After the postwar era, PE refocused on gas operations. As of the end of 2013, PE had spent more than $1 billion on capital improvements.
PECO’s service area includes 2,100 square miles of territory, including Pottstown, Willow Grove, and Coatesville. This makes PECO one of the largest utilities in Pennsylvania. Despite its size, PECO focuses on being an environmentally friendly company. They encourage consumers to choose greener options for energy.
Electricity rates
There are several ways to reduce your electric bill, especially in summer. Some of the most effective ways are energy efficiency, weatherization and sealing leaks. You should also review your supplier contract.
A deregulated energy market has opened up more options for Pennsylvania consumers. Choosing a competitive energy supplier offers a number of advantages. In particular, you can lock in a fixed rate for up to six months. It gives you more control over your utility costs and helps keep your bills consistent.
The cost of electricity in Pennsylvania is on the rise. In some areas, prices are up as much as 46%. Increasing natural gas costs are also driving up the price. If you don’t have a competitive energy supplier, you may pay higher rates.
PECO is one of the largest energy companies in Pennsylvania. It serves over 132,000 customers in the state. They have served the Greater Philadelphia region for over 130 years. And they provide jobs to over 9,600 people.
Smart Time Pricing
PECO’s Smart Time Pricing program offers customers a “super off-peak” price that offsets higher peak period prices. It is based on a portion of total system kWh usage. During the remaining hours of the year, the price is $0.0685 per kWh.
To implement the program, PECO selected NRG Retail Services. The company contacted PECO’s customers and found that about 121,000 were eligible for the TOU program. Those customers were offered a one-year pilot program. The average cost savings were about 5%.
The company’s goal was to find a way to improve efficiency and reduce costs. It also had to satisfy the state’s energy conservation law, Act 129.
The solution is a web page that will provide customers with information on how to shift their electricity use. The page will also describe the different time of use rates offered by Peco and offer tips to get customers to make the switch.
LEED certifications
PECO is a natural gas and electric utility company in Pennsylvania. The company is committed to reducing emissions and helping customers save money. It launched its PECO Smart Ideas initiative to improve the sustainability of its buildings.
In 2015, PECO received LEED certification for its Philadelphia headquarters. This is just one of six LEED certified buildings the utility currently operates.
In addition to the six buildings that earned certification, PECO has also implemented numerous green upgrades to five other buildings. These include a green roof, lighting upgrades, a water conservation program, and infrastructure improvements.
The PECO Leadership in Energy and Environmental Design (LEED) initiative represents over 1.5 million square feet of building space. PECO’s efforts have improved energy usage and greenhouse gas emissions. Additionally, PECO has invested $15.3 million to improve sustainability.
CAP program
The PECO CAP program is a discounted residential tariff rate for low-income customers within PECO’s service area. CAP offers a substantial discount on a household’s electric and gas bills. Customers receive a larger credit during periods when they use more energy, such as summer and winter.
In order to participate in CAP, low-income customers must meet a series of requirements. They must also make timely payments to remain eligible. These rules are designed to keep CAP cost-effective.
Among these requirements is that a customer’s total gross household income must be at or below 150% of the Federal Poverty Level. If a customer’s total gross household income exceeds 150% of the FPL, they are no longer eligible for CAP.
Another requirement is that a customer’s total energy usage must be greater than 500 kWh monthly, and 600 kWh per month if using baseload electricity. Similarly, a customer’s gas heat must be used at least 100 ccf per month.
