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BG&E Rate Hike After 11 Month Stabilization
Posted By Jim On 03/29/2007 @ 9:30 am In The Home | 3 Comments
If you live in Maryland and buy power a company that has it generated by Baltimore Gas and Electric, on June 1st, 2007, the rate stabilization plan that was put into place a year ago, which capped the potential 72% increase to market rates at 15%, will end and consumers will have to choose one of two plans. The two choices are: 1) phase in the market rates through a 7 month program; 2) take it. As June approaches, BG&E has indicated they will send out more information.
If you don’t remember opting into the one year rate rate stabilization plan, that’s because everyone was required to participate and the difference (between market rates and the cap) was sold to a third party, a debt we’ll be paying off for the next ten years.
I believe you can get the latest from BG&E’s website but I’m unsure how often it is updated.
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