PECO Rate Increase

PECO energy announced earlier this month that residential electric rates for their customers will increase on April 1, 2011 to 10.16 cents per KWh.  Customers in PECO energy territory recently experience rate hikes to 9.92 cents on January 1 when capped electric rates were lifted and the area became a fully competitive electric market.

With capped rates now lifted, PECO energy will adjust their electric rates for their residential customers every three months.  The rates will be based on the market prices.  It is important for people living in Pennsylvania to understand just how quick electric prices can increase.  There are roughly 1.4 million electricity customers in the PECO area who are now facing electric choice for the first time.

Customers should consider locking in rates so that they do not face the surprise of their electric bill doubling or even tripling in the summer months.  That is precisely what happened to many Texas electricity customers in July and August of 2008 when electricity prices tripled in just a few months, right in time for the summer peak electricity demand season.

There are over a dozen electric rate options for PECO customers looking to compare electric offers.  It is recommended that customers choose a fixed rate to protect themselves from potential increases.