The DC Public Service Commission dealt Pepco a defeat on Wednesday as it gave the utility giant barely half the rate increase it had sought for its customers in the District.

Commissioners approved a $24 million rate hike, which they said would lead to an average monthly bill increase of $2.60 for residential consumers.

Pepco, which declined to comment after the ruling, had requested a $42 million hike, which would have made residential bills jump by more than $5 a month.

Thousands of the power company's customers were left in the dark for as long as a week after a June 29 derecho stormed through the area, sparking cries for more regulation and reform of what has been called America's "most hated" company.