Business Government

PECO Offering One-Time Credit For New Year

Credit: PA Internet News Service

PECO customers will get some relief in January.

The utility will provide customers with a one-time $35 credit due to cost savings from the federal Tax Cuts and Jobs Act that provided a boon to many large companies.

PECO saved $68 million due to the updated federal tax bill.

The one-time credit will offset the 2019 rate increase for most customers. The increase translates to roughly a $1 jump on the total monthly bill for a typical residential electric customer using about 700-kilowatt hours of electricity.

In a 2018 filing with state regulators, PECO officials wrote that the increase will help pay for improvements to the electric distribution system and services, including infrastructure and technology upgrades that will help PECO maintain safety and service reliability, and help customers better manage their bills and energy usage.

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