Summary
Exelon Corporation, through its subsidiary PECO Energy Company (PECO), has filed a request with the Pennsylvania Public Utility Commission (PAPUC) to increase its electric distribution rates, effective January 1, 2019. PECO is seeking an annual increase of $82 million in electric delivery revenues. This proposed increase has been partially offset by a requested $68 million return of 2018 tax savings to customers, stemming from the Tax Cuts and Jobs Act (TCJA). Consequently, the net impact of the rate request, after accounting for the customer credit, is approximately $14 million. The filing also indicates PECO is seeking a 10.95 percent rate of return on common equity.
Key Highlights
- 1PECO Energy Company filed a request to increase electric distribution rates by $82 million annually, effective January 1, 2019.
- 2The requested rate increase is net of a proposed $68 million return of 2018 tax savings (from the TCJA) to customers.
- 3The net proposed increase in annual electric delivery revenues, after customer credits, is approximately $14 million.
- 4PECO is seeking an allowed rate of return on common equity of 10.95 percent.
- 5The final approved rate increase, if any, by the PAPUC is not yet determined.
- 6This filing is an "Other Event" and does not involve a material definitive agreement, bankruptcy, or change in control.