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PECO TO REDUCE ELECTRIC RATES BY 4.6 PERCENT ON JAN. 1; ANOTHER RATE REDUCTION PROJECTED FOR APRIL 1993

 PHILADELPHIA, Dec. 28 /PRNewswire/ -- There is good news for the new year for customers of Philadelphia Electric Company (NYSE: PE).
 PECO will reduce its electric rates by 4.6 percent, effective Jan. 1, the company announced today.
 The rate change, which reflects the end of the recovery phase of the Limerick Unit 2 rate increase, will decrease the monthly bill for the typical residential customer using 500 kilowatt-hours of electricity from $73.87 to $70.42.
 Joseph F. Paquette Jr., chairman and chief executive officer, said continued strong nuclear performance will lead to still another electric rate decrease, estimated to be about 2 percent, in April 1993, as energy cost rate adjustments reflect the efficiency of nuclear fuel.
 This would bring the total PECO rate reduction to almost 10 percent in one year.
 Paquette said the rate decreases reflect the company's concerted rate stabilization efforts, which include both strong nuclear performance and an extensive program of operating cost containment.
 He also noted that PECO has committed not to seek a base electric rate increase at least through April 1994, except for any legislative or regulatory mandate beyond its control.
 "We are very strongly committed to the goal of rate stabilization at Philadelphia Electric," he said, "and we believe we are on target to achieve that goal."
 /delval/
 -0- 12/28/92
 /CONTACT: Bill Jones of Philadelphia Electric, 215-841-4129/
 (PE)


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

CC -- PH007 -- 0012 12/28/92 10:58 EST
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Date:Dec 28, 1992
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