Pepco claims it needs the money in order to pay for investments it made in the reliability of the grid, and for smart meters it installed. These are good things, but shouldn’t they be doing that on their own dime, especially since these investments will make the company run more efficiently?
The bottom line is this rate increase, if approved by the Public Service Commission, will cost the average homeowner about $15 a month. It will cost the average retail business, like a restaurant, somewhere in the range of $125 a month (based on my own estimates). If the government hit us with a tax increase like this, everybody would be up in arms. The fact that it comes from our utility should elicit the exact same negative response.
Thankfully, there are options for folks who don’t want to pay the extra charges. Ratepayers in Maryland will soon be able to switch to a community solar subscription through companies like Neighborhood Sun and save money on their electric bills. For more details, go HERE.