Printer Friendly

PECO RATE FOR NATURAL GAS CUSTOMERS TO BE CUT DEC. 1

 PHILADELPHIA, Nov. 30 ~PRNewswire~ -- A new lower natural gas rate will take effect tomorrow, Dec. 1, for Philadelphia Electric Company (NYSE: PE) (PECO) customers.
 The new rate reflects a slight decrease, nearly 1 percent or a $7 savings per year, for the average gas heating customer. It is the third consecutive year in which PECO has reduced rates for its 358,000 suburban natural gas customers.
 The change in rates is an annual adjustment made by the company after a review audit by the state Public Utility Commission (PUC) of all PECO gas costs.
 Beginning Dec. 1, the average annual bill for a residential natural gas customer using 115,000 cubic feet will decrease from $772 to $765. The current rate reflects a reduction in rates of nearly 14 percent since 1989, when the typical customer bill was $889 per year.
 Kenneth G. Lawrence, PECO vice president, Gas Operations, said, "While the market price for natural gas has been rising in recent months, we are very pleased to offer stable and competitive gas rates for our customers in the coming year, which are still lower than oil prices."
 The new rate is equal to 79 cents an equivalent gallon of home heating oil. In comparison, a statewide average price for home heating oil is approximately 90 cents per gallon, according to the Pennsylvania Energy Office.
 ~delval~
 -0- 11~30~92
 ~CONTACT: Michael Wood of Philadelphia Electric, 215-841-4125~
 (PE)


CO: Philadelphia Electric Company ST: Pennsylvania IN: UTI SU:

MK -- PH005 -- 4046 11~30~92 09:55 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 30, 1992
Words:256
Previous Article:CMAC INVESTMENT CORPORATION CONFIRMS THIRD QUARTER EARNINGS INCREASE OF 39 PERCENT
Next Article:CANADIAN FIRM FILES SUIT AGAINST UPPER DECK
Topics:


Related Articles
PECO SUBMITS REQUEST FOR SUBURBAN GAS RATE INCREASE, BUT BILL WILL BE BELOW 1989 LEVEL
PECO ENERGY BUCKLES DOWN FOR COLD SPELL
PECO ENERGY FORMS HOME PAGE ON INTERNET'S WORLD WIDE WEB
PECO Energy Cuts Rate for Suburban Natural Gas Customers.
New, 7.7% Lower Rate Takes Effect Today for PECO Energy Natural Gas Customers.
PECO Energy Files Plan That Allows Natural Gas Supplier Choice For All Customers.
PECO Energy Encourages Customers to Plan Ahead for Higher Natural Gas Costs This Winter.
PECO Lowers Natural Gas Rates; Customers Benefit From More Stable Market.
PECO Drops Natural Gas Rate for Second Time This Year, Lowers Gas Supply Charge by 29%; Prices Down, Supply Strong for Winter Heating.
Big Rate Cut for PECO Natural Gas Customers Takes Effect Tomorrow, December 1.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters