Today PECO filed a request to the Pennsylvania Public Utility Commission that, if approved, will greatly enhance electric reliability, advance clean energy and provide additional customer programs. The two attachments I have included, provide additional information about the PUC filing. If the rate filing is approved, PECO will invest more than $3 billion between 2019 and 2022 in electric distribution infrastructure to make the local energy grid stronger and more resilient, enhancing service and delivering safe, reliable, and clean energy for customers. This proactive work is critical to reducing the impact of extreme weather on infrastructure and ensuring enhanced service for our customers. The requested rate increase also provides financial assistance for eligible residential customers, including $2.7 million in bill relief for those who have received a federal COVID relief grant or are living with a household member who has experienced unemployment since the pandemic. The filing includes a $1 million small business grant program, providing bill credits of $3,000 to qualifying small businesses located in low-income communities, demonstrating financial hardship. The filing expands public Electric Vehicle (EV) charging infrastructure with $1.5 million of incentives to support commercial, industrial, and public transit customers with early EV deployments, with a focus on reducing emissions in disadvantaged communities.
If approved as submitted, a typical residential customer would see a bill increase of about $9.68 per month or 9.65%. A typical small commercial customer would see a bill increase of about $44.74 per month or 5.49%. If approved, the proposed rate increase would go into effect on January 1, 2022. It may interest you to know that the average PECO residential electric customer’s total bill is currently at about the same level that it was 30 years ago in 1990.