Maryland Power Companies Seek Approval to Refund $160 Million in Tax Savings to Customers
Utility companies Baltimore Gas and Electric (BGE), Delmarva Power, and Pepco are seeking regulatory approval to return $160 million in tax refunds to their customers in Maryland. This initiative follows a summer court ruling that mandated the state to repay $250 million to these energy companies. The proposed refunds include $110 million for BGE customers, $20 million for Delmarva Power customers, and $30 million for Pepco customers. The Public Service Commission, an independent state agency responsible for regulating the utility industry, will review the proposal to determine the timing, structure, and allocation of these refunds. While the companies have expressed that it is too early to specify the exact amount each customer will receive, BGE spokesperson Nick Alexopulos confirmed the ongoing review. This move comes as BGE is also seeking to increase its customers' electricity rates by $8 a month, citing the need to maintain a safe and reliable system, a proposal currently under review by state regulat...
