Pepco announces rate increase request
Pepco has announced plans to file for yet another rate increase in the fall, The Washington Post reported.
Chief Executive of parent company Pepco Holdings Joseph Rigby on Tuesday spoke out against a denial in July by Maryland state regulators of a rate increase request by Pepco.
“We expect to file our next round of rate cases in Maryland in the fourth quarter of this year,” he said. “A fair and reasonable outcome in the next round of cases will be crucial to continue the pace of investment in Maryland.”
Silver Spring resident Jennifer Brown feels it's inappropriate for the utility company to ask for a rate increase following the lengthy outages after the derecho.
"I don't think anyone wants to pay more money for poor service," Brown said.
Garine Magary, her husband and three small children were without power for more than a week after last month's storm.
"It's a punch in the face. It's a punch in the stomach. It's a knock down, drag out fight. I think people are going to fight it and they should," Magary said.
Pepco insists it needs more money to rebuild an old and crumbling infrastructure.
Pepco sought a $68 million rate increase for its 531,000 Maryland customers, but state regulators only granted $18 million. Regulators calculated that the increase would add $2.02 to the average residential bill, but that was later revised to $1.89, a Pepco spokeswoman said, according to The Washington Post.