It is being reported that the Maryland Public Service Commission (PSC) staffers are suggesting that Constellation Energy Group (CEG) should transfer up to $400 million in equity into BGE to improve the utility's financial standing. PSC staff is not proposing ratepayer credits because some analysts have pointed out that ratepayer credits could adversely affect BGE's finances.
Constellation has offered to invest up to $250 million in BGE, but only if it's necessary. The company if offering to delay requests for rate increases, and is offering regulators a choice: it will either forgo $22.5 million in anticipated future rate increases, or give customers one-time credits on their bills totaling the same amount.
But that amount is far lower than the credits sought by O'Malley, which amount to 10 percent of a household's annual bill and could cost more than $200 million. The governor also wants Constellation to contribute $50 million to $100 million to a program that helps lower-income residents pay their utility bills. (
Balt Sun, 10/27/09)
It is being reported that the Maryland Public Service Commission (PSC) staffers are suggesting that Constellation Energy Group (CEG) should transfer up to $400 million in equity into BGE to improve the utility's financial standing. PSC staff is not proposing ratepayer credits because some analysts have pointed out that ratepayer credits could adversely affect BGE's finances.
Constellation has offered to invest up to $250 million in BGE, but only if it's necessary. The company if offering to delay requests for rate increases, and is offering regulators a choice: it will either forgo $22.5 million in anticipated future rate increases, or give customers one-time credits on their bills totaling the same amount.
But that amount is far lower than the credits sought by O'Malley, which amount to 10 percent of a household's annual bill and could cost more than $200 million. The governor also wants Constellation to contribute $50 million to $100 million to a program that helps lower-income residents pay their utility bills. (Balt Sun, 10/27/09)
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