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Maryland Electricity Rate Hike Update

Posted By Jim On 05/03/2006 @ 3:20 pm In Personal Finance | 2 Comments

Last week, the Public Service Commission approved a plan where the 72% rate hike that would come into effect on July 1st be deferred over 18 months but a 5% interest charge could not be immediately assessed. (That interest charge was part of the prior discussions [3] of softening the rate hike and part of the reason why I didn’t wouldn’t have signed up for it) Turns out BG&E requested flexibility in how they were going to charge the interest (so it’d still be in there) and since the PSC isn’t doing its job of representing the people, Mayor O’Malley has filed suit.

Again I wonder where the $500M in fees customers who have been paying to BG&E for depreciation on power plants that never depreciated – why can’t that help offset some of this? How is the PSC not been disbanded considering the chairman Kenneth Schisler has been hitting up utility lobbyists [4] for tickets and hunting trips?

Someone should be asking those questions.


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[2] Email: mailto:?subject=http://www.bargaineering.com/articles/maryland-electricity-rate-hike-update.html

[3] prior discussions: http://www.bargaineering.com/articles/latest-maryland-electricity-rate-hike-news.html

[4] chairman Kenneth Schisler has been hitting up utility lobbyists: http://www.bargaineering.com/articles/md-electricity-rate-cap-legislation-dies.html

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