The head of PECO is moving on after a failed bid to increase customer rates and amid ongoing friction with the company’s largest union.
PECO announced that David Vahos, who took over as president and CEO last June, will transition to a role as “special advisor” to Calvin Butler, the president and CEO of PECO’s parent company, Chicago-based Exelon Corp.
Mike Innocenzo, who previously served as PECO’s president and CEO from 2018 to 2024, will return to the top position on a temporary basis.
“I am honored to once again lead PECO, as we stay relentlessly focused on operational excellence and advocating for affordable energy for our customers,” Innocenzo said in a statement.
Innocenzo thanked Vahos for his “leadership of the energy transformation.”
On March 30, PECO filed a proposal with the Pennsylvania Public Utility Commission (PUC) seeking a 12.5 percent increase in electric rates and an 11.4 percent hike for natural gas. The proposal would have added an estimated $20.08 to the average monthly electric bill and $14.52 for natural gas.
The plan drew bipartisan pushback from local Democratic and Republican lawmakers and Democratic Gov. Josh Shapiro, who cited the burden on residents already struggling with the rising costs of food and gas.
The price hike proposal came after PECO reported $814 million in profit in 2025.
PECO withdrew the request after the backlash from elected officials and the public.
“While our filing with the PUC would have provided needed improvements in safe and reliable energy delivery, we recognize that Pennsylvanians are struggling with basic necessities,” Vahos said at the time of the withdrawal.
The leadership transition also comes at the same time there is a breakdown in labor negotiations at PECO.
Approximately 1,500 employees represented by the International Brotherhood of Electrical Workers Local 614 have been working without a contract for three weeks.
According to NBC 10, both the utility and the union have filed unfair labor practice complaints, each accusing the other of acting in bad faith.
PECO serves 1.7 million electric and 553,000 natural gas customers in the Philadelphia region.
