Peco asks for power rate hike
Exelon's Peco electric subsidiary files for rate increases with the Pennsylvania Public Utility Commission. They're not telling us how much yet, but they are offering (like other PA utilities) to pay 6 percent interest to customers who want to prepay their bills.
As expected, Exelon's Peco electric subsidiary asked for new price-setting powers today from the Pennsylvania Public Utility Commission.
How much more will Peco charge Philadelphia-area electric customers? This time, they're not asking for a set price. They're asking to be able to base prices on future power costs.
In practical terms, that would mean a 20 percent increase by 2011 if today's fuel costs and other expenses stay unchanged until then, said spokeswoman Cathy Engel. The real price could be more, or less, depending on what costs do over the next couple of years.
Also, Peco is offering to pay 6 percent interest to customers who want to prepay their bills. That's better than your bank is probably paying, though your bank probably doesn't end up keeping your deposits.
Peco propaganda here.