Earlier this week, BillyPenn of WHYY reported that electric bills in the Philadelphia and surrounding region may climb significantly next year, and again the following year. This is due to what experts say is the result of a lagging transition to renewable energy.
PECO wants to increase the cost it charges to deliver power to both homes and businesses by 12.3% in January. That means an additional $16.67 a month or more for the typical residential customer, followed by a $2.07 per month increase in 2026.
In addition to that, capacity prices will also increase next June. These are fees that power plants receive to supply customers on the hottest and coldest days of the year. This will result in hikes that could raise bills an additional 10% over two years, but analysts say it could increase even more.*
Luckily, there is a way to combat these rising costs by transitioning to solar energy. When you switch to solar, you lock in your kWh rate. Once locked in, you will begin to enjoy inflation-free energy for the next 25 years or more.
SunnyMac provides free in-home consultations for homeowners in DE, MD, PA, and NJ. During this analysis, a solar energy expert will review your past utility bills and analyze your roof’s potential energy production to determine if solar energy is right for you. To request your complimentary analysis, contact us today.
Resources:
- BillyPenn. PECO Customers Could Face Double-Digit Electricity Bill Increases Next Year. Accessed 8/29/24.
