PECO Hikes Rates
While PECO has requested other rate hikes this year that are currently under investigation, one rate hike was approved. Starting July 1, 2024 PECO raised it’s Distribution System Improvement Charge (DSIC). We’re going to explain this charge, and what the changes mean for your 2024 PECO electricity bills.
PECO Charging Bills for System Improvements
The DSIC is a percentage charge on your bill. It’s designed for utilities to use it for projects they would otherwise have to wait on a rate case approval to be able to complete. Such as replacing old equipment, making grid upgrades, and making changes to meet current industry standards and regulations. Typically, companies that have DSIC charges don’t increase rates as often, and make smaller increased when they do.
Every quarter, companies must submit any changes to their DSIC charges for the PUC to review. That’s in addition to a yearly audit to make sure the company is spending the money on DSIC projects. This quarter, the PUC agreed to raise the charges for PECO.
What Does This Mean for Your PECO Electricity Bills?
Thankfully, PECO’s rates won’t be going up by much! The previous charge was 1.28% of your total electicity bill. That is increasing to 1.36%. So, for the average customer using about 700 kWh per month, your bill could go up by about 5 cents, from $135.21 to $135.26.
Of course, if PTC rates climb again, that means your bill will increase even further. The two best ways to prevent that are to use less electricity and to shop for a cheaper deal with the best energy supplier in Philadelphia.
Shop for a Lower Electricity Rate this Summer
Eveyone wants to avoid higher electricity bills. And with the pending rate hikes from PECO, you may be wondering what you can do to keep your bills low. If you really want to see a difference in your bills, then you need to find a low electricity rate. And shopping for a reputable electricity provider is easy at PA Energy Ratings. Compare providers, read reviews, and more with us. Visit https://www.paenergyratings.com