Utility bills go up — as do utility company profits

Monopoly utility giant Exelon just reported $5.43 billion in revenue last quarter. However, over that same period here in Pennsylvania, families opening their utility bills saw a very different story. While the company’s profits soar, PECO customers are being asked to pay more every month just to keep the lights on and their homes cool.

For seniors on fixed incomes, already stretched by rising costs for groceries and gas, these rate hikes are hitting hard. It’s hard to explain why a utility serving our state is celebrating a successful quarter for its Wall Street shareholders while everyday Pennsylvanians are left with higher and higher bills. 

Pennsylvania lawmakers and regulators should be asking the obvious question: Why are utility bills climbing while utility profits soar? Families across the Commonwealth shouldn’t have to choose between paying the power bill and putting food on the table.

What’s worse, these rate hikes aren’t just about “rising costs.” Distribution charges, capacity fees, and other utility-added surcharges are the real drivers, and they’re all designed to funnel guaranteed returns to Exelon. Now the company is lobbying Harrisburg for even more power by asking to generate electricity itself, essentially moving from delivery into production – a move that will mean higher bills and less choice. 

Lawmakers in Harrisburg need to step in. They should demand transparency on every dollar these monopoly utilities spend, stop unnecessary projects that pad profits, and block any expansion of utility control that would squeeze ratepayers any further. Exelon and its greedy Wall Street investors should not be given any more power to abuse the ratepayers of our commonwealth.