Maryland Utility Companies Seek Regulatory Approval for $160 Million in Tax Refunds to Customers
Maryland utility companies Baltimore Gas and Electric (BGE), Delmarva Power, and Pepco are seeking regulatory approval to distribute $160 million in tax refunds to their customers. This initiative follows a summer court ruling that mandated the state to return $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, as stated by the Exelon-owned companies. 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. A spokesperson for BGE, Nick Alexopulos, indicated that it is currently too early to specify the exact amount each customer would receive. BGE expressed hope that these tax savings would offer relief to customers facing increased energy costs. This development occurs while BGE is also pursuing an $8 per month increase in electricity ra...