BGE Plan to Pass Federal Tax Reduction Savings to Customers Accepted by Maryland Public Service Commission
January 31 2018 - 5:53PM
Business Wire
The Maryland Public Service Commission today accepted BGE’s
proposal to provide approximately $103 million in annual tax
savings to customers beginning Feb. 1, 2018.
"This is a positive outcome for BGE customers, and we are
appreciative of the Public Service Commission’s decision to accept
our proposal to convert tax savings to reduced rates," said Calvin
G. Butler Jr, chief executive officer of BGE. "We are pleased to
have another opportunity to further reduce the average BGE
residential customers’ total bills, which remain below levels from
a decade ago.”
The average BGE residential electric customer will receive an
estimated $2.91 decrease on their monthly bill, and the average
residential combined natural gas and electric customer will receive
an estimated $5.41 monthly reduction. Commercial customers will
also receive monthly bill reductions. Reduced rates for all BGE
customers will be reflected beginning in customers’ February 2018
bills.
While customer bills have decreased, BGE has continued to invest
in energy infrastructure. The investments have resulted in record
system reliability, accelerated modernization of the natural gas
system through the STRIDE program, increased security and
significant customer satisfaction improvements.
BGE voluntarily filed the proposal to reduce rates as a result
of the federal Tax Cuts and Jobs Act.
BGE, founded in 1816 as the nation's first gas utility and
headquartered in Baltimore, is Maryland's largest natural gas and
electric utility. The company's approximately 3,200 employees are
committed to safe and reliable power delivery to more than 1.25
million electric customers and more than 650,000 natural gas
customers in central Maryland, as well as enhanced energy
management, conservation, environmental stewardship and community
assistance. J.D. Power's 2017 Electric Utility Business Customer
Satisfaction Study SM ranked BGE highest in customer
satisfaction with business electric service in the east among large
utilities. The company also has an estimated annual economic impact
of $5 billion of output in its service area, supporting more than
9,500 local jobs and producing $923 million in labor income. BGE is
a subsidiary of Exelon Corporation (NYSE: EXC), the nation's
leading competitive energy provider. Like us
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version on businesswire.com: http://www.businesswire.com/news/home/20180131006354/en/
Baltimore Gas and Electric Company (BGE)Aaron Koos,
aaron.koos@bge.comBGE Media Hotline: 410-470-7433
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