PECO withdraws rate hike plan after backlash from Pa. leaders
PECO pulled its proposed electric and natural gas rate increases after pressure from Governor Josh Shapiro and Pennsylvania lawmakers, citing affordability concerns for about 1.7 million customers. The plan would have raised electric bills by roughly $20/month and gas by about $14.50/month (potentially starting in 2027 with 12.5% electric and 11.4% gas hikes). Critics highlighted PECO’s 2025 profits (net income up 47.7% to $814 million under Exelon) and consumer disconnections, while the utility said it will revisit investments and work with stakeholders to address high energy costs at a later date.
