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PSC Approves $18M of Pepco's $68M Rate Increase Request
The increase will raise a household's monthly electricity bill by about $2, according to a statement issued by the Maryland Public Service Commission.
Of the $68 million rate increase requested by Pepco, the Maryland Public Service Commission has rejected $50 million. Still, the $18 million rate increase "translates into a $2.02 typical residential monthly bill impact" (a 1.69 percent increase), according to a statement issued by the Maryland Public Service Commission on Friday afternoon. In the rejection order, the commission "noted its overall dissatisfaction with Pepco’s performance, and characterized its request to increase returns to shareholders 'before Pepco corrects its sub-par performance' as 'backwards,' " according to the statement. Pepco filed the request on Dec. 16, 2011. "The full record in the case included testimony from 31 witnesses and 11 days of evidentiary hearings, …
Urge Tech
12:01 am on Thursday, January 3, 2013
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