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TheStreet Open House

PECO Customers Save $350 Million And Counting With PECO Smart Ideas

Stock quotes in this article: EXC

PECO customers have saved more than $350 million with PECO Smart Ideas, the company’s highly successful suite of energy efficiency programs. Since the programs launched in 2009, customers have benefited from more than $220 million in energy savings and received more than $130 million in rebates, discounts and incentives on energy-efficient products.

Customers have saved more than 1.5 million megawatt hours of electricity. That’s enough electricity to power 10,000 average U.S. homes for more than a year, keep New York City lit for about a month or power 50 professional football stadiums for about 1,000 games. This energy savings also has the same environmental impact as removing about 145,000 cars from roadways or planting more than 1.6 million trees.

More than 500,000 PECO customers have already participated in PECO Smart Ideas energy efficiency programs. Specifically, customers have:

  • Purchased more than 9.5 million discounted compact fluorescent (CFL) light bulbs and light emitting diode (LED) bulbs through PECO Smart Home Rebates
  • Recycled 36,985 refrigerators/freezers/AC window units with PECO Smart Appliance Recycling
  • Completed more than 41,000 free energy-saving PECO Smart e-Audits

“PECO Smart Ideas has programs to help every customer save energy and money,” said Liz Murphy, PECO vice president of Governmental and External Affairs. “We are thrilled with the savings these programs have provided our customers and encourage our customers to continue to participate in the many programs available to help them manage their energy needs.”

PECO also recently increased the rebate amounts available for many electric appliances and HVAC equipment models to provide more savings for customers. All ENERGY STAR ® refrigerators now qualify for a $75 rebate, which means more choices and more opportunities to save. These changes were approved by the Pennsylvania Public Utility Commission and began on June 1.

PECO Smart Ideas is part of the company’s support of Pennsylvania’s energy efficiency and demand response targets – Act 129. Act 129 required all Pennsylvania electric utilities to develop programs to help customers reduce energy use by 1 percent by May 31, 2011 and 3 percent by May 31, 2013. Act 129 also requires utilities to help customers reduce their energy usage by an additional 2.9 percent by May 31, 2016.

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