For Immediate Release
WASHINGTON, D.C.-Pepco has agreed to extend the enrollment period for its Maryland residential rate increase Phase-In Option to July 15, 2006. The Phase-In Option allows residential customers to soften the impact of price increases that took effect on June 1, 2006.
The Phase-In Option is identical to the plan developed with Maryland legislators during the regular Maryland legislative session. It gives residential customers the option of phasing in the rate increase, in increments of 15 percent on June 1, 2006, 15.7 percent on March 1, 2007 and the balance on June 1, 2007. Customers who choose the Phase-In Option will have to pay back the deferred amounts over an 18-month period beginning June 1, 2007. Without the phase-in, residential customers will see an average annual increase of about 39 percent effective June 1, 2006. Customers who enroll between now and July 15 will become part of the phase-in as of the first billing cycle after their enrollment; once that occurs, they will participate on the same schedule as those who signed up before June 1. There will be no change to the effective dates for the deferral and recovery periods or to the percentages deferred.
Pepco carried out an extensive communications campaign to publicize this Phase-In Option, including individual letters to each customer, radio and newspaper ads, fliers in English and Spanish and presentations to community groups. Community or other groups who would like to schedule a presentation about the Phase-In Option can do so by calling Pepco's Speakers Bureau at 202-872-2089. Customers are also encouraged to log onto www.pepco.com and click on the Phase-In Option link on the home page. There they will find extensive details, including frequently asked questions on the Phase-In Option, and can enroll online in the phase-in, as well.
"We agreed with the legislators that in order to make doubly sure that all customers are aware of the Phase-In Option, it would be a good idea to extend the enrollment period," says Thomas Graham, Pepco Regional President. "Customers need to carefully consider all the information about the Phase-In Option in order to decide what is best for them."
Customers who want to enroll in the Phase-In Option should go to www.pepco.com and follow the link on the home page. They can also enroll by contacting a Pepco Customer Service representative at 202-833-7500. As always, Pepco customers can obtain extensive information on other ways to cope with the higher rates from pepco.com or from a Customer Service representative.
"Helping customers learn about energy conservation and energy bill-paying support programs is an ongoing priority for us," says Graham.
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Pepco, a subsidiary of Pepco Holdings, Inc. (NYSE: POM), delivers safe, reliable and affordable electric service to more than 745,000 customers in Maryland and the District of Columbia.