Pepco filed a multi-year plan with the Maryland Public Service Commission (PSC) designed to assist in the recovery of the region from the pandemic, continue to improve the local energy grid and build a smarter, stronger, cleaner energy future for the company's 582,000 electric customers in Montgomery and Prince George's counties. We understand our customers and communities have been significantly affected by the pandemic. Pepco's plan will provide extended support and predictability for customers, accountability for the company and assistance for those in need.
The plan we propose provides expanded support to customers who may be financially impacted by the pandemic. Pepco will accelerate customer tax benefits, essentially maintaining energy delivery rates at current levels for the next two years. Besides flat distribution rates, electric supply costs for Pepco standard offer service customers dropped by $2.80 due to a reduction in wholesale energy costs.
The plan details how Pepco will invest in the local energy grid and enhance service for customers while providing transparency and bill predictability for customers. These projects include efforts that will improve system performance through new, more modern equipment, projects to expand capacity and meet the growing needs of customers, efforts to help prevent those power outages that can be prevented, and corrective maintenance work, which focuses on replacing infrastructure that is approaching end of life. The investments outlined in the plan will also create approximately $1 billion of economic activity in Maryland, supporting more than 1,425 jobs per year. So far this year, Pepco has provided more than $2 million in support of local nonprofits and to local relief funds, supporting families, individuals and small businesses impacted by the COVID-19 pandemic.
We know this is a difficult and unprecedented time for our customers and communities that we are privileged to serve.
Learn more about our plan: