BALTIMORE (WJZ)–The Maryland Public Service Commission announced Friday that it has granted approximately 65 percent of Baltimore Gas and Electric Company’s requested increase for electric and gas rates.
Of the $175 million total increase requested by BGE, the commission granted $80,554,000 for electric distribution and $32,416,000 for gas distribution.
For an average residential electricity customer, this represents a 2.6 percent increase in the overall bill, or about $3.33 per month.
An average gas customer will see a 4.26 percent increase in the overall bill, or about $2.70 per month.
The majority of the approved expenses are related to additional infrastructure spending and state-mandated safety and reliability projects.
The commission reduced the allowed return to BGE’s shareholders from the combined requested return of 10.5 percent to 9.75 percent for its electric operations and to 9.6 percent for its gas operations.
The new rates will take effect for services rendered on or after February 23, 2013.