​Baltimore, MD and Washington, DC (August 14, 2019) -- The Maryland Public Service Commission (PSC) has taken important steps toward modernizing utility ratemaking in the state. The PSC has issued an order directing the formation of a working group of interested parties charged with developing and submitting a detailed report on how to implement a multi-year rate plan based on a historic test year and up to three future test years, allowing customers to have more insight into their utility rates. 

"We have advocated for increased transparency and predictability in the ratemaking process to enhance service for our customers and allow for better alignment of utility investments and state energy policies," said Dave Velazquez, president and CEO of Pepco Holdings, which includes Delmarva Power and Pepco. "We are pleased the Commission is driving this process forward and we look forward to participating in the working group focusing on implementation of this modern form of ratemaking for our customers."

"Not only will this decision by the Commission enable us to better invest in innovative programs and services for our customers, it also is a major step forward in the efforts to advance the modernization of the energy grid making way for the technologies that will help meet the growing clean energy goals in the state," said Calvin Butler, CEO of Baltimore Gas and Electric. "We look forward to participating in the working group and in ensuring our customers have more line of sight to the value they are receiving for their natural gas and electric service as a BGE customer."