The Maryland Public Service Commission accepted BGE’s proposal to provide approximately $103 million in annual tax savings to customers beginning Feb. 1, 2018.
“This is a positive outcome for BGE customers, and we are appreciative of the Public Service Commission’s decision to accept our proposal to convert tax savings to reduced rates,” said Calvin G. Butler Jr, chief executive officer of BGE. “We are pleased to have another opportunity to further reduce the average BGE residential customers’ total bills, which remain below levels from a decade ago.”
The average BGE residential electric customer will receive an estimated $2.91 decrease on their monthly bill, and the average residential combined natural gas and electric customer will receive an estimated $5.41 monthly reduction. Commercial customers will also receive monthly bill reductions. Reduced rates for all BGE customers will be reflected beginning in customers’ February 2018 bills.
While customer bills have decreased, BGE has continued to invest in energy infrastructure. The investments have resulted in record system reliability, accelerated modernization of the natural gas system through the STRIDE program, increased security and significant customer satisfaction improvements.
BGE voluntarily filed the proposal to reduce rates as a result of the federal Tax Cuts and Jobs Act.