Pepco rate increase approved by Maryland Public Service Commission

BALTIMORE (AP) - The Maryland Public Service Commission has approved a rate increase for Potomac Electric Power Company that will add about $2.41 to the average residential customer's monthly bill.

The PSC, which ordered the increase Friday, said the $27.9 million increase is primarily for reliability investments. State regulators say the amount is substantially less than the company's request of $60.8 million.

Pepco also requested a $192 million grid resiliency charge, of which $24 million was granted.

The company's application was filed in November. It was the second request for an increase in electric distribution rates in the last two years and the third request in the last four years.

The commission says it has granted less than half of the requested amounts for each case.