One year after PECO Energy Company posted a rise in millions of dollars of net income from one quarter to another, close to 1,600 workers at the company staged a successful three-day strike that resulted in an increase in wages and pension plans for all members, as well as full retirement medical coverage for members.
Line and gas technicians, machinists, call center employees, and others at the company went on strike at midnight on July 4th. It was the first strike in the company’s 145-year history.
PECO, which is the commonwealth’s largest utility provider with 1.7 million customers throughout southeastern Pennsylvania, has come under scrutiny after posting record profits in 2025 and proposing higher rate increases for consumers.
IBEW Local 614 President Lawrence Anastasi declared victory after the two sides reached a tentative agreement on Monday.
“Management stole our pensions, eroded our medical benefits, and exploited our wages while jacking up rates, recording record profits, and skimming the fat for the C-suite. This contract begins to right those wrongs,” Anastasi said in a statement.