Latest news with #PECO
CBS News
3 days ago
- Business
- CBS News
PECO customers shocked after getting $12K statements, others going months without bills
Thousands of PECO customers have experienced bizarre billing glitches since last fall, resulting in some receiving shocking statements or going months without receiving a bill. Posiey Brown couldn't believe the balance when she opened her recent PECO bill. "There's no way," she remembered thinking, staring at the nearly $12,000 statement she received in April. Brown, who lives in Norristown, Montgomery County, said it was the first PECO bill she'd received in months. Brown said she continued to make partial payments while trying to get an explanation from PECO, but she said she felt her concerns weren't being taken seriously. Posiey Brown shows the nearly $12,000 bill she received from PECO after going months without receiving one. CBS News Philadelphia "I really try to stay on top of it because when August came and I didn't receive a bill, I called them and I asked them, 'Can I know what my bill is?'" Brown said. She was told on the phone that PECO couldn't see her bill. Brown isn't the only PECO customer to recently contact In Your Corner for help. Ann Palladino in Whitemarsh Township, Montgomery County, reached out after going nearly an entire year without receiving a bill. "My daughter told me to contact you because she was tired of me complaining about it," Palladino said. "For people who are used to having their bills fully paid and on time, it's disconcerting." PECO addresses billing glitches CBS News Philadelphia contacted PECO on behalf of Brown and Palladino to get to the bottom of what was going on. A PECO spokesperson explained that as many as 8,000 customers have been impacted by bizarre billing issues since last fall. The problem appears to stem from the utility's transition to a new billing system last year, but PECO says it can't pinpoint why certain customers are impacted. PECO said it added 60 new associates and established a dedicated email address, PECObilling@ specifically for customers experiencing billing issues. The Southeast Delegation of Pennsylvania House Democrats recently sent an open letter to PECO demanding answers and slamming the utility company for not acting fast enough to fix the problem. PECO said that it has resolved many of the issues and continues to work daily to address remaining concerns. "We appreciate the Southeast Delegation's attention to billing issues affecting our customers and thank those who signed the letter for the opportunity to engage," PECO said. "We've responded, reaffirming our commitment to resolving these concerns." Getting back on track After CBS News Philadelphia became involved, Palladino says she started receiving statements for missed months, but she is still not receiving current bills. PECO said it will continue to make regular contact with her until her issue is resolved. PECO said Brown's nearly $12,000 bill was caused by a meter programming error that led to an inaccurate usage calculation. The utility company said it corrected her balance and waived late fees, and she now owes around $900. Brown said she agreed to a payment plan but feels PECO should've handled the situation differently. "They should've notified the customers they were having a billing issue," she said. Customers with billing questions or concerns can also call PECO at 800-494-4000. Do you have a money question, a consumer issue, or a scam story you want to share? Email InYourCorner@
Business Recorder
4 days ago
- Business
- Business Recorder
PECO factory sealed over non-payment of Rs1.9mn property tax
The Excise and Taxation Department of the Punjab government has sealed the factory premises of Pakistan Engineering Company Limited (PECO), a publicly listed company, due to non-payment of property tax amounting to Rs1.9 million. The company disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday. 'The management is actively engaging with the relevant authorities to resolve the matter and ensure restoration of access to the factory offices to avoid disruption in administrative functions,' PECO said, in its filing to the bourse. PC initiates privatisation process of PECO Concerning the announcement of a Right Issue by PECO made in January 2025, the company informed that it has not proceeded with the said Right Issue due to directives issued in two separate proceedings initiated by the Securities and Exchange Commission of Pakistan (SECP). 'The SECP has restricted PECO from proceeding with the Rights Issue, citing regulatory limitations primarily due to the company's name appearing in the CIB report in relation to an overdue liability,' it said. PECO added that it is actively pursuing appropriate forums to clarify that the proposed Right Issue is 'aimed at addressing these very compliance concerns, and therefore, the restrictions should not apply in such a context'. Initially established under the name of Batala Engineering Company (BECO) in 1950, PECO produced light engineering products. Historically, the company manufactured high-quality machine tools, pumps, power looms, concrete mixers, cranes, power presses, electric motors, bicycles, steel rolled products, electricity transmission towers, structures and general fabrication. The plant was originally set up at Badami Bagh, Lahore, spanning 34 acres, with the neighbouring area subsequently converted into the steel centre of Pakistan. Due to the rapid addition of products, the land area became inadequate for further expansion and 247 acres of land were acquired in 1960 at Kot Lakhpat industrial zone, Lahore, for relocating factory premises in the future. After being taken over by the government in 1972 under the nationalisation reforms, it was rechristened Pakistan Engineering Company (PECO).
Fast Company
21-05-2025
- Business
- Fast Company
How Pennsylvania is responding to increasing electricity bills
Americans' electricity bills tend to tick up each year in line with inflation. Subscribe to the Daily newsletter. Fast Company's trending stories delivered to you every day Privacy Policy | Fast Company Newsletters But Pennsylvania faces distinct challenges related to its electric grid – the maze of wires and generators – that drive both the growing demand for electricity and the limited supply. PJM and the electric grid Pennsylvania power plants produce a lot of electricity. In fact, the Keystone State is the the largest exporter of electricity in the U.S. and has been for many years. But the electricity Pennsylvania produces doesn't always stay in state. That's because Pennsylvania's electric grid is managed by a company called PJM. PJM coordinates the flow of electricity through all or parts of 13 states and the District of Columbia, and it ensures the wholesale electricity transmission system operates reliably and safely. Pennsylvania electric utilities, such as PECO or Duquesne Light, then distribute this wholesale electricity to retail customers, including homeowners and renters. PJM requires the utilities to ensure ahead of time that they can meet their customers' future electricity demands, including during heat waves and winter storms. This requirement is met using a market called a 'capacity auction,' in which electricity suppliers bid to provide physical infrastructure that will generate electricity in the future. The prices at the 2025-2026 PJM capacity auction were more than 800% higher than the previous year, in part due to the growing demand for electricity within PJM. This amounts to tens of billions of dollars in extra costs. Power plants in Pennsylvania can't simply stop exporting electricity and supply more in-state power because they dispatch their power into the regional grid operated by PJM, and the flow of electricity is dictated by the physical structure of this grid. Soaring demand from data centers U.S. electricity demand rose 3% in 2024 and is expected to rise even more rapidly in the coming years. advertisement Bottlenecks in supply The increase in electricity demand within PJM is happening at the same time that supply is shrinking. Many old generating plants in the PJM grid are retiring as they near the end of their useful lives and become less profitable for plant operators, particularly as natural gas and solar become more affordable. Some of these older power plants also emit a lot of pollution and are costly to retrofit to meet current pollution limits. Beyond the challenge of plant retirements, PJM has been slow to allow hundreds of new proposed power plants – most of them solar- and battery-based – to connect to transmission lines. This long 'interconnection queue' prevents new, needed generation from coming online. This is happening even though companies are eager and ready to build more generation and battery storage. Aging infrastructure and growing weather extremes One of the primary recent drivers of high consumer electric bills is that the utilities have been slow to upgrade their aging wires. Many have recently made major investments in new infrastructure and in some cases are burying or strengthening wires to protect them from increasingly extreme weather. Electricity customers are footing the bill for this work. Response from policymakers In response to rising electricity prices, Pennsylvania Gov. Josh Shapiro filed a legal complaint with the Federal Energy Regulatory Commission against PJM in December 2024. This complaint blamed PJM's capacity auction design for creating unnecessary costs for consumers. According to the settlement reached after the complaint, PJM's price caps will be 35% lower at the next major capacity auction. This reduction in wholesale prices could limit retail price increases. But this is at best a temporary fix. It doesn't address the increasing demand, aging power infrastructure battered by extreme weather, or transmission bottleneck. In order for Pennsylvania residents to see lower electric bills anytime soon, more changes are needed. For example, many experts previously observed that PJM needs to fix the queue and get online the many power plants that are ready to build and just waiting for a transmission interconnection. While PJM has reformed its queue process, the queue is still long. New power plants are not going up fast enough, in part due to additional challenges such as local opposition and supply chain and financing issues. This article is republished from The Conversation under a Creative Commons license. Read the original article.
CBS News
16-05-2025
- Climate
- CBS News
Storms flood roads, spur multiple water rescues in Delaware County, Pennsylvania
Strong storms packing high winds and heavy rain flooded roads and knocked out power for thousands of people in Delaware County and other areas in Pennsylvania on Friday. Dispatchers across Montgomery, Chester and Delaware counties said crews were responding to multiple water rescues with cars stuck in water. Emergency responders were dealing with several flooded roads in West Chester, Pennsylvania, according to police and county officials there. A rainfall total map showing which areas of Pennsylvania and New Jersey were hardest hit by rain. West Chester is under the pink area signaling the heaviest rainfall. National Weather Service The area was one of the hardest hit by the storm, with preliminary rainfall estimates from the National Weather Service indicating 2-3 inches of rain fell Friday. A vehicle stuck in the water on a street in Marple Township, Pennsylvania. CBS News Philadelphia In Marple Township, a car was stuck in the water and crews were called out to make a rescue before the driver got out on their own. On I-76, travelers were dealing with standing water on the highway. Total Traffic cameras showed cars splashing through and reducing speeds on the highway. Vehicles driving through heavy water on I-76 Total Traffic/PennDOT Over 1,900 people in Delaware County, 1,800 people in Montgomery County and 1,600 people in Chester County were without power Friday afternoon, according to PECO's outage tracker. There were several hundred outages in Bucks County as well but those numbers were dropping. The outages affect less than 5% of the customers in those counties. This is a developing story and will be updated. Joe Brandt Joe Brandt has been a digital content producer for CBS News Philadelphia since 2022. He is a Temple University graduate and was born and raised in Pitman, NJ. and contributed to this report.
Business Wire
15-05-2025
- Business
- Business Wire
PECO Announces the Retirement of President and CEO David Velazquez
PHILADELPHIA--(BUSINESS WIRE)--PECO, an Exelon company (Nasdaq: EXC), today announced the retirement of President and CEO David Velazquez. Velazquez, an Exelon veteran, retires after more than 40 years of service across the energy industry. Velazquez, who grew up in Pennsylvania, was named PECO's president and CEO in February 2024, becoming quickly entrenched in the service area, building strong relationships with local businesses and community organizations and furthering PECO's commitment to its customers. Velazquez will retire on July 1. Seasoned Exelon leader David Vahos has been appointed the new President and CEO of PECO, effective June 1. He will also join Exelon's Executive Committee. Vahos, a graduate of Villanova University, brings more than 30 years of financial and operational leadership experience to his new role. He most recently served as senior vice president, chief financial officer and treasurer of Exelon subsidiary Pepco Holdings, leading financial operations and regulatory strategy and supporting major operational initiatives for the company's three utilities including nearby Atlantic City Electric and Delmarva Power, as well as Pepco which provides service to the District of Columbia and Maryland suburbs. Vahos previously held the chief financial officer and treasurer role at sister company Baltimore Gas and Electric (BGE). "David Velazquez has been an extraordinary leader for over four decades, he is also a dear friend. His dedication and vision have been instrumental in shaping the broader energy landscape, bringing a focus on operational excellence and innovation, as well as the importance of being connected to the communities we serve," said Mike Innocenzo, Exelon's executive vice president and chief operating officer. "As we wish him well in his next chapter, we are thrilled to welcome David Vahos as the new president and CEO of PECO. David's technical expertise, strategic vision and inclusive leadership will ensure PECO will continue to innovate, thrive and be a pillar of the greater Philadelphia community." 'I am deeply honored to succeed David Velazquez, who has made a lasting impact not only at PECO but across the entire Exelon family of companies. I look forward to returning to the Philadelphia area, where I spent some formative years, and working closely with the more than 3,000 PECO employees to continue delivering the safe, reliable, and efficient service our customers expect — while also advancing our work to strengthen community partnerships, and lead the transition to a cleaner energy future,' said David Vahos. In addition to his professional achievements, Vahos is actively involved in civic and nonprofit organizations focused on economic development, education and workforce readiness. While in Maryland, he served on the boards of the YMCA and the University System of Maryland Foundation. Vahos is also a founding board member of the Association of Latino Professionals for America (ALPFA) Baltimore Chapter. He holds a bachelor's degree in accountancy from Villanova University, and a master's degree in business administration from Johns Hopkins University.
