Peco patrons scorched as payment sites closed

Article Abstract:

Peco Energy Co.'s decision to close 280 authorized walk-in payment centers in Philadelphia, PA, has inconvenienced many of its customers. Customers who were accustomed of paying their electric bills in centers near their homes were forced to travel far and pay their bills at remaining payment centers. Customers who were not informed of the closures almost lost their electric supply because they do not know where they can settle their bills. However, Peco remains faithful to its decision and plans no reversal of its decision. Peco contends the closure and restructuring will save the utility around $400,000 per year and will prepare the firm for competition.

Comment:

Decision to close 280 authorized walk-in payment centers in Philadelphia, PA, has inconvenienced many of its customers

Electric Utilities, Electric Power Generation, Transmission and Distribution, Services discontinued, Article

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Peco says its ready for arrival of Y2K

Article Abstract:

Philadelphia, Penn.-based Peco Energy has reported that its Year 2000 fix should prevent any problems with its utilities operations when the new year begins on January 1, 2000. The utilities firm, which has been working on the problem for two years, is due to make a report on its Y2K fix to state and federal regulators. Peco has reported that it plans a routine shutdown of its Peach Bottom nuclear power plant to complete its Y2K program. The Y2K program has resolved potential problems for Peco facilities and equipment, such as customer meters and large generators.

Facilities & equipment, Other Electrical Equipment and Component Manufacturing, Electronic Components

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Peco profits improve despite lower rates

Article Abstract:

Peco Energy Co.'s first-quarter earnings improved, increasing almost one third, even though the utility experienced an 8% cut rate and a net loss of 76,000 customers to rival utilities. Peco Energy stated that its results compared positively to its results from a year ago, because of heavy depreciation charges the company took a year ago in order to prepare for competition. The elimination of replacement power expenses, as a result of the Salem nuclear power plant's return to service in April of 1998, was also a factor.

Comment:

Its 1st-quarter earnings improve, rising almost 1/3, even though co. has 8% cut rate & net loss of 76,000 customers

United States, Sales, profits & dividends

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