Company Overview of PECO Energy Company
PECO Energy Company, an electric and natural gas utility, engages in the purchase and regulated retail sale of electricity, and the provision of transmission and distribution services to retail customers in southeastern Pennsylvania. The company is also involved in the purchase and regulated retail sale of natural gas, and the provision of distribution services to retail customers in the Pennsylvania counties surrounding the Philadelphia city. As of December 31, 2016, its electric distribution system comprises 12,963 circuit miles of overhead lines and 9,290 circuit miles of underground lines. As of January 30, 2017, the company provided electricity to approximately 1.6 million customers and...
2301 Market Street
Philadelphia, PA 19103
Founded in 1881
Key Executives for PECO Energy Company
Chief Executive Officer, President and Director
Chief Financial Officer, Senior Vice President and Treasurer
Chief Operations Officer and Senior Vice President
Chief Executive Officer of Exelon Generation Company LLC and President of Exelon Generation Company LLC
Chief Executive Officer of Commonwealth Edison Company, President of Commonwealth Edison Company and Director of Commonwealth Edison Company
Compensation as of Fiscal Year 2016.
PECO Energy Company Key Developments
Pennsylvania Public Utility Commission Approves $6.2 Million Settlement over 2014 PECO Energy Blast
Oct 31 16
The Pennsylvania Public Utility Commission approved a settlement with PECO Energy totaling $6.2 million in relation to a 2014 house explosion in Coatesville, Pa. The settlement comprises a $900,000 civil penalty that cannot be recovered from ratepayers and $5.3 million for gas safety enhancements over the next 10 to 20 years. As part of the agreement, PECO is expected to develop a $3 million gas mapping plan, allot $2.3 million for related infrastructure improvements and require camera inspections of all mains and service lines. The PUC said the explosion happened while PECO was performing an up rating project on natural gas lines, citing the complaint filed by the agency's independent Bureau of Investigation and Enforcement.
PECO Energy Company Reports Unaudited Earnings Results for the Third Quarter of 2016
Oct 26 16
PECO Energy Company reported unaudited earnings results for the third quarter of 2016. For the quarter, the company reported GAAP net income of $122 million compared with $90 million in the third quarter of 2015. Adjusted operating earnings were $123 million against $91 million a year ago. Adjusted operating earnings in the third quarter of 2016 increased by $32 million from the same quarter in 2015, primarily due to favorable weather and increased electric distribution revenue pursuant to a rate increase effective January 1, 2016.
PECO Energy Co. Issues $300 Million of Mortgage Bonds
Sep 19 16
PECO Energy Co. has issued $300 million of its 1.70% first and refunding mortgage bonds due Sept. 15, 2021, to help refinance at maturity $300 million of its 1.20% bonds due Oct. 15. Interest on the bonds is payable semiannually, beginning March 15, 2017.
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