PECO: Switch to natural gas now more affordable

Posted by Press Release on October 2, 2015

The state Public Utility Commission has approved PECO’s plan to expand natural gas service to meet growing customer demand, a PECO press release said.

The plan, filed in November 2014, includes a change in how the customer credit is determined to reduce the upfront cost of establishing natural gas service for customers. Customers will now receive a larger credit, based on their natural gas usage. This expanded credit will be available to customers beginning Oct. 5.

In addition, a pilot program will begin in early 2016 to reduce the cost of extending natural gas mains to neighborhoods where natural gas is not currently available. Customers can learn more about the program at peco.com/gasconversion.

“We continue to find new and innovative ways to provide safe and reliable energy solutions to our customers. Expanding natural gas service is part of those efforts,” Craig Adams, PECO president and CEO, said in a press release. “With natural gas prices at their lowest point in years, this plan will help to meet the increased demand for natural gas service and provide cost-effective ways for more customers to take advantage of the many benefits of natural gas.”

Customers are paying about 50 percent less on average for natural gas than they did in 2008. Lower natural gas prices also have reduced the cost of electric generation – saving residential PECO natural gas and electric customers about $1,000 a year.

“Today’s action is another in a series of positive steps designed to afford Pennsylvania citizens every reasonable opportunity to avail themselves of the numerous benefits of natural gas,” Pennsylvania Public Utility Commissioner Pamela Witmer said in the release, which was issued on Thursday, Oct. 1. “I reiterate my enthusiastic support for these proposals, and I continue to challenge other natural gas distribution companies to consider ways in which they can bring this homegrown fuel source to more Pennsylvania consumers.”

In addition to these new programs, other natural gas energy efficiency and incentive programs include PECO Smart Natural Gas Conversion, which offers rebates up to $200 for residential and up to $1,000 for commercial customers that switch to natural gas from another fuel source. And PECO Smart Gas Efficiency Upgrade provides up to $300 in rebates for customers installing ENERGY STAR® qualified natural gas furnaces or boilers.