Printer Friendly

PE ELECTRIC RATES TO DECREASE 3.4 PERCENT ON APRIL 1

 PE ELECTRIC RATES TO DECREASE 3.4 PERCENT ON APRIL 1
 PHILADELPHIA, March 25 /PRNewswire/ -- Philadelphia Electric Company


(NYSE: PE) (PE) said today its customers will experience two rate changes for a $120 million, or an average 3.4 percent, decrease, in their monthly electric bills, effective April 1.
 PE said one reduction, totaling $60 million annually, or 1.7 percent, is attributed to superior performance of its nuclear power plants, which resulted in reduced fuel costs in 1991 and projected lower fuel costs for 1992.
 PE's nuclear units operated at a combined capacity factor of 75 percent in 1991, above the national average of 70 percent, and they produced 63 percent of the company's electric output.
 The rate reduction was effected through approval by the state Public Utility Commission (PUC) of PE's Energy Cost Adjustment (ECA) filing, which enables utilities to annually reconcile fuel costs for generation of electricity.
 PE said the second electric rate decrease, 1.7 percent, or another $60 million, also has been filed with the PUC, to reflect a reduction in the rate of recovery for increased state taxes. It assumes no increase in state taxes on electric bills during 1992.
 PE said for a residential customer using 500 kilowatt-hours of electricity, the monthly bill will be lowered on April 1 from $76.07 to $73.88 by the combined rate decreases.
 The company said it also anticipates an additional 4.5 percent reduction in base rates on Jan. 1, 1993, with the end of the recovery phase of the Limerick Generating Station rate increases.
 The 500 kwh customer bill then will be $70.42 per month, representing better than seven percent decrease during 1992.
 /delval/
 -0- 3/25/92
 /CONTACT: Michael Wood of Philadelphia Electric, 215-841-4125/
 (PE) CO: Philadelphia Electric Company ST: Pennsylvania IN: UTI SU:


MP -- PH004 -- 1399 03/25/92 09:21 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:Mar 25, 1992
Words:311
Previous Article:FURON ANNOUNCES YEAR-END RESULTS
Next Article:DESKTOP DATA ANNOUNCES ADDITION OF ZIFFWIRE NEWS SERVICE
Topics:


Related Articles
PE ELECTRIC RATES TO DECREASE 7 PERCENT, OR $236 MILLION, IN 1992
RATE CHANGES APPROVED FOR COPCO CUSTOMERS
PE ANNOUNCES STEPPED UP BILL COLLECTION EFFORTS
PECO FILES FOR 1.5 PERCENT ELECTRIC RATE INCREASE WITH THE PENNSYLVANIA PUC
COPCO ANNOUNCES RATE DECREASE
PECO TO REDUCE ELECTRIC RATES BY 4.6 PERCENT ON JAN. 1; ANOTHER RATE REDUCTION PROJECTED FOR APRIL 1993
PECO FILES FOR $100 MILLION CUT IN ELECTRIC RATES; THIRD IN A YEAR TOTALLING 10 PERCENT
PECO FILES FOR $100 MILLION CUT IN ELECTRIC RATES; THIRD IN A YEAR TOTALLING 10 PERCENT
COPCO CUSTOMER BILLS TO DECREASE
PECO ENERGY ELECTRIC BILLS TO INCREASE BY 1.4 PERCENT; REMAIN 9 PERCENT LOWER THAN 1992

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters