Peco raising gas rates 7 percent |
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Wed, 28 Feb 2007 23:05
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PHILADELPHIA (AP) - Peco Energy announced Wednesday that it is raising its natural gas rates by 7 percent, or about $10 a month for the average residential customer.The company will increase its price from 97 cents per 100 cubic feet to $1.06, a change that will raise the average monthly residential bill from $131 to $141.Peco has under-collected from customers for its actual gas supply costs during the past three months and now must increase the rate in order to make up the deficit, according to Reed Horting, Peco's vice president for gas.'Peco makes a particular effort to keep rates as low as possible during the winter months when it matters most to customers,' said Horting.An electric and natural gas utility subsidiary of Exelon Corp., Peco serves 1.6 million electric and 474,000 natural gas customers in southeastern Pennsylvania.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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