PECO Energy says you’ll see about a 10-percent increase in your bill for electricity and natural gas come the new year.

KYW’s Mark Abrams reports it’s going to cost the average customer about $8 a month more to keep the electricity flowing starting January 1st.

For gas customers, the increase in rates is expected to be less than $8 a month.

PECO says the new rates were hammered out in a settlement filed on Tuesday with the Public Utility Commission in Harrisburg.  That settlement still must be reviewed and approved by the regulatory body later this year.

Consumer groups had feared that rates could rise as much as 20 to 30 percent as state-mandated caps on electric and gas rates expire next year.

PECO says it will use the money to invest in its electricity and gas distribution system.

The actual costs of electricity and natural gas charged to customers are not part of this equation.  But a PECO official projects those costs will remain stable.
For more info, go to pecoanswers.com.