Exelon Units Seek to Lower Customer Bills Following Tax Overhaul
January 05 2018 - 11:10AM
Dow Jones News
By Bowdeya Tweh
Utility holding company Exelon Corp. (EXC) said Friday its BGE
and ComEd subsidiaries will seek permission from state regulators
to reduce rates for customers following the enactment of the recent
federal tax overhaul.
The company said in both instances, the savings are from the
reduction in the corporate tax rate.
BGE said it will seek permission from the Maryland Public
Service Commission to pass about $82 million in tax savings to
customers this year. BGE said if approved, the average residential
electric customer could see a decrease of about $2.31 on their
monthly bill, and the average residential combined natural gas and
electric customer could see a $4.27 monthly bill reduction,
starting next month.
ComEd said it will seek permission from the Illinois Commerce
Commission to pass about $200 million in tax savings to customers
this year. ComEd said if approved, the average residential customer
could see a decrease between $2 and $3 on their monthly bill.
Exelon shares fell 0.1% to $38.47 in morning trading.
Write to Bowdeya Tweh at bowdeya.tweh@wsj.com
(END) Dow Jones Newswires
January 05, 2018 10:55 ET (15:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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