Most PECO electric customers will see bills drop starting in December

The average residential customer that uses PECO’s default service will see their monthly bill go down by around $5 starting Dec. 1.

Sophia Schmidt

December 1, 2023

PECO headquarters in Center City Philadelphia. (Kimberly Paynter/WHYY)

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Many Philadelphians’ electric bills will go down slightly starting December 1.

Residential customers that buy electricity from PECO will see their bills dip by around $5 a month.

“Obviously there’s everyday goods and services that are costing more,” PECO spokesperson Greg Smore. “We recognize [the] responsibility to serve our customers while also working to keep bills as low as possible.”

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The change is due to a drop in the cost of the electricity the utility supplies, which is made largely from natural gas.

“It’s really anticipated that the cost of natural gas will continue to decrease and eventually will stabilize in the next few years,” Smore said. “That’s really due to increased domestic production and lower overall demand.”

The cost of the electricity PECO supplies — reflected in the supply charge on a customer’s bill — is decreasing close to 8%, or about one cent per kilowatt hour.

The $5 decrease only applies to PECO customers that use the utility’s default electric service. The roughly 23% of PECO customers that shopped around for an electric supplier could see different price changes.

It’s a modest change for customers — but Smore says there are other ways you can reduce your household’s overall energy costs.

“Just taking small steps around your home like upgrading your insulation, making sure that your window and doors are sealed as best as possible and managing your thermostat to save money during the wintertime,” he said.

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Customers can also explore the Low-Income Home Energy Assistance Program, or LIHEAP, which can provide a grant of up to $1,000, or ask PECO to even out their bills over 12 months.

“It starts to spread your bill out over a 12-month period,” Smore said. “It makes any fluctuations … a little bit more manageable.”

PECO’s supply charges will reset again in early March.

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