AARP is disappointed in today’s decision by the Maryland Public Service Commission (PSC) to grant Pepco what the Commission termed a ‘reasonable profit’ when it decided to partially approve Pepco’s rate hike request. In a departure from previous rate cases, the decision today puts the costs for infrastructure improvements that have not yet been made squarely on the backs on consumers. This will allow the utility giant to continue spending its revenues and profits on corporate shareholders, instead of investing in its own company. Grid Resiliency charges are not good for the ratepayer because they cause consumers to pay for work before it has been completed and determined to be cost effective. “We are disappointed that the PSC has authorized the monthly surcharge on everyone’s bill for a promise to do work, paid for in advance. We will see whether these additional funds actually result in improved reliability. What we DO know is that we will be paying up front. The company track record does not bolster confidence” says AARP MD Advocacy Director, Tammy Bresnahan. “While Pepco was looking for higher rates, its customers are still looking for better service” said AARP MD State Director, Hank Greenberg “Our goal remains [...]
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