Senator Frank Farry and state Representatives Joe Hogan, Kristin Marcell, K.C. Tomlinson, and Shelby Labs announced on April 16 that PECO will withdraw its request to increase rates for customers after discussions with the utility company. The announcement follows a letter sent by the lawmakers on April 2 urging PECO to reconsider its proposal due to concerns about financial strain on residents.
The issue is important for many families in Bucks County who are already facing high utility costs. The legislators said that additional rate hikes would have further impacted household budgets at a time when affordability is a concern.
Earlier this year, PECO received approval for a 10% increase in electric service rates and a 12.5% hike in natural gas rates, which led to the company reporting an increase of nearly 48% in net revenue—totaling $814 million for the year. Despite these gains, PECO had been seeking another round of increases: 12.5% more for residential electric customers and an additional 11.4% for residential natural gas users, with a combined cost estimated at $429 million.
“We understand that an improved and reliable grid is critical to the success of our community, but a rate increase right now is unacceptable,” said Farry. “Increasing electric costs by 12.5% and natural gas costs by 11.4% would negatively impact the families we represent. We are glad that PECO has decided to withdraw its proposal and is putting affordability first.”
Farry has served in public roles within Middletown Township and as a leader in local fire companies according to his official website. He has also worked on laws addressing public safety issues such as penalties for porch piracy and illegal street racing according to his official website. Farry lives with his wife Kristen and their two children according to his official website.
He was elected to represent Pennsylvania’s 6th District in Bucks County in 2022 according to his official website. His educational background includes degrees from Wharton School of Business as well as advanced degrees from Rutgers University according to his official website. Farry grew up locally, graduating from Neshaminy High School according to his official website.
The withdrawal of the proposed rate increases means residents will not face new energy cost hikes this year while conversations about future infrastructure needs continue.
