Maryland Price to Compare and Utility Increases 2024
Maryland Price to Compare and Utility Increases 2024
A recent report by the Baltimore Sun reveals that BGE, Pepco, and Delmarva Power (all owned by Exelon) have significantly increased delivery rates since 2010.
For electricity, BGE's rates more than doubled from 2.5¢ to 6.2¢ per kWh, Pepco's rates doubled from 2.6¢ to 6.2¢ per kWh, and Delmarva Power's rates more than doubled from 3.2¢ to 7¢ per kWh.
In terms of gas, BGE's rates tripled from 26¢ to 85¢ per therm, and Columbia Gas's rates tripled from 30¢ to $1.00 per therm. Meanwhile, Potomac Edison (electric) and Washington Gas have seen modest rate increases aligning with inflation.
State policies like STRIDE and multi-year rate plans have fueled excessive capital spending, driving up rates and profits. Action is needed to repeal or modify the STRIDE statute to curb unnecessary capital spending and strengthen state regulation to protect consumers from monopoly-driven rate hikes. High capital spending by utilities is great for investors but harms customers.
Have you been affected by recent bill increases? Shop utility rates with Ananta today to find better options and save on your energy bills.
