PECO Seeks PA PUC Permission For Phase One Residential Real-Time Pricing Program
Posted on: Monday, 17 March 2008, 12:00 CDT
PECO requested permission of the Pennsylvania Public Utility Commission (PUC) today to begin phase one of a voluntary Residential Real-Time Pricing program (RRTP). Available to up to 2,000 PECO customers, the program allows customers to view the next day's energy prices, learn about how they use energy, and potentially save money by reducing energy use during the highest cost hours of the day.
"In this ever changing energy market, it's important to explore new technology and its benefit to our customers," said Denis O'Brien, president and CEO of PECO. "Real-time pricing helps puts customers in control by giving them the tools they need to understand how they use energy and to control their energy use during key times. And, any reduction in energy use also benefits the environment."
Participating customers will have access to an interactive Web site where they will find all the information needed to make decisions about how and when they use energy. Customers will be able view the hourly price of energy and their actual energy use. Participating customer's meters will be upgraded with additional software to provide more automated meter readings. Customers will participate in the program for 12 months.
The program is just one of many ways PECO is working to help customers manage their energy costs as rate caps expire on January 1, 2011 and the company completes the transition to market-based pricing.
The PUC is expected to rule on PECO's filing in early summer. If approved, PECO then will begin soliciting customer volunteers to participate in the program.
Based in Philadelphia, PECO is an electric and natural gas utility subsidiary of Exelon Corporation (NYSE:EXC). PECO serves 1.6 million electric and 480,000 natural gas customers in southeastern Pennsylvania and employs about 2,500 people in the region. PECO delivered 78.5 billion cubic feet of natural gas and 39.9 billion kilowatt-hours-hours of electricity in 2007. Founded in 1881, PECO is one of the Greater Philadelphia Region's most active corporate citizens, providing leadership, volunteer and financial support to numerous arts and culture, education, environmental, economic development and community programs and organizations.
If you are a member of the media and would like to receive PECO new releases via e-mail please send your e-mail address to PECO.Communication@exeloncorp.com
Source: Business Wire
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