Maryland Regulators Reduce Pepco Rate Increase Request by Over Half
State officials authorized $50.9 million of the electric utility's requested $119.8 million rate hike.
HERE'S WHAT WE KNOW
Regulators approved a $50.9 million rate increase for Pepco after the utility requested $119.8 million. Electric bills will still rise for customers.
Maryland state regulators approved a $50.9 million rate increase for Pepco, rejecting more than half of the electric utility's proposed hike, according to a report from Maryland Matters.
Pepco had initially requested a $119.8 million rate increase. While state regulators significantly scaled back the authorized amount, Pepco customers will still see their electric bills go up.
The decision keeps bill increases markedly lower for ratepayers than the amount Pepco originally sought.
WHAT IT MEANS
Pepco subscribers in Maryland will face higher electric bills, though the increase will be considerably smaller than what the company requested.
Original reporting referenced by Everything Frederick:
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