PHILADELPHIA — Nearly 1,700 unionized workers at Philadelphia Electric Company (PECO) have authorized a strike if no agreement is reached before their current contract expires June 30, according to multiple labor sources familiar with the negotiations.
The International Brotherhood of Electrical Workers Local 614, which represents the utility workers, cites stagnant wages and reduced healthcare benefits as key sticking points in talks with Exelon Corporation, PECO’s parent company. Analysts note this comes amid rising inflation and particularly hot summer weather forecasts that could strain power grids.
“We’ve seen 8% inflation since our last contract, but management wants to cap raises at 2% annually,” said one union member speaking anonymously due to negotiation sensitivities. PECO officials responded that their offer includes “competitive compensation packages” while ensuring ratepayer affordability.
A 2023 Pennsylvania Public Utility Commission report shows PECO earned $1.2 billion in net income last year. Labor experts suggest this profitability strengthens the union’s bargaining position as the region enters peak electricity demand season.