Background on Issue:
March, PECO proposed a staggering 10% rate increase to the Pennsylvania Utility Commission, claiming that the increase is to cover the cost of bill “forgiveness” to ratepayers and modernize the grid system to better use renewables. The truth is PECO is attempting to pass the buck to ratepayers so they can recoup lost profits from the pandemic, with no regard for how this increase would devastate low-income ratepayers and without a real climate plan (let alone a grid modernization plan). For years, PECO has been sending over $1 million dollars a day in profits to its corporate parent in Chicago. It can afford to do something for Philadelphia’s low-income ratepayers.
On June 2nd, EQAT and our partners will be holding a march and rally against PECO’s rate hikes, demanding that PECO’s shareholders, not ratepayers, absorb the cost of lost profits and that the PUC not approve a blank check for PECO because of their negligence to plan for the climate crisis.