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Article: Philadelphia Negotiates Discounted Electric Rates with Peco Energy.(Originated from The Philadelphia Inquirer)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 13, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHILADELPHIA--Jun. 13--It's the dream of every utility customer -- guaranteed lower rates. Now, it's a dream come true for Philadelphia.
The Rendell administration announced Wednesday that it had negotiated discounted electric rates with Peco Energy Co. for city government and the school district.
The city's deal will save taxpayers an average of $5.3 million a year for four years, administration officials said. Details of the school district discount still must be worked out, but officials estimated the savings at $1.6 million annually.
Almost everyone associated with the deal was grinning. David L. Cohen, Mayor Rendell's chief of staff, called it ...