David Vahos, PECO’s CEO since last June, will be replaced on an interim basis by former Chief Executive Mike Innocenzo, The Philadelphia Business Journal reported today.
The leadership replacement came days after the energy company’s decision to withdrawal its unpopular proposed rate hike that would have increased customers’ utility bills by about $34 per month.
The utility provider said in a Thursday press release that the decision came after “taking into consideration conversations with Gov. Josh Shapiro,” customers and stakeholders. Shapiro called the proposal “pure greed” on social media.
“I am honored to once again lead PECO, as we stay relentlessly focused on operational excellence and advocating for affordable energy for our customers,” Innocenzo said in a statement.
The Journal noted that Innocenzo previously served as PECO’s CEO from 2018 to 2024 and will retain his responsibilities as COO of Chicago-based Exelon.
In related news, NBC10 reported yesterday that PECO and its 1,500 union workers have each filed unfair labor practice charges with the National Labor Relations Board (NLRB).
The workers has been working without a contract since March 31.
PECO filed charges with the NLRB against the union for “having a ‘take-it-or-leave-it’ attitude towards its bargaining positions, failing to meet at reasonable times and engaging in obnoxious conduct”, NBC10 wrote. “The union, in their latest charge filed with the NLRB on Monday, April 20, accused PECO of not showing up to a previously confirmed bargaining meeting that was scheduled for Sunday, April 19.”
PECO sent the following statement to Glenside Local:
We are bargaining in good faith, and we remain confident that we can reach an equitable agreement that is fair for our employees and best serves the needs of our customers.
We initially agreed to in-person bargaining on April 19. However, at the eleventh hour, Local 614 unilaterally insisted on virtual bargaining and refused to meet in person, which is not as effective as meeting in person. Because of this, the meeting failed to materialize. We have continued to offer dozens of dates in April and May, including nights and weekends, to continue negotiations.
The union is bargaining in bad faith. They have made little effort to come to a new agreement. Their tactics and misconduct are wasting time, and in many cases are concerning. Because of this, on Friday, April 17, PECO filed its own Unfair Labor Practice with the National Labor Relations Board. Union leadership’s conduct at the table has been reprehensible. Despite this conduct, we remain ready and available to meet and continue discussions. We are eager to move forward, because we are focused, as always, on our customers.
We also vehemently disagree with the characterization in the charge filed by the union with the National Labor Relations Board and will respond through the appropriate legal process.
For all the latest news, follow us on Facebook or sign up for Glenside Local’s “Daily Buzz” newsletter here.
Photo: PECO