Montgomery County Sees Lower Pepco Rate Increase Than Expected
Montgomery County's Pepco rates increase by $3.94 per month, significantly lower than the anticipated $10.24. This adjustment follows the Maryland Public Service Commission's approval of $50.9 million out of a proposed $119.9 million increase, primarily influenced by rejected project costs.
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Effective August 31, Pepco's rate for Montgomery County increases by $3.94 monthly, much less than the initially requested $10.24. The Maryland Public Service Commission approved only $50.9 million of Pepco's total rate increase request of $119.9 million, rejecting $164.9 million related to the White Flint substation project.
The Commission determined the expenses for the substation were imprudent, siding with consumer advocates and regulatory bodies. Additionally, Pepco's allowed return on investments was reduced from 10.5% to 9.40%. A new Maryland law aimed at reducing utility costs is under review for potential future savings.
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