PSC rejects most of Pepco rate increase request

Published July 20, 2012 11:12pm ET



ANNAPOLIS, Md. (AP) — Maryland regulators on Friday rejected a large portion of the Potomac Electric Power Company’s request for a 4 percent rate increase, citing the company’s history of substandard performance.

The Maryland Public Service Commission rejected $50 million of the $68 million increase requested by the company. The $18.1 million increase approved by regulators amounts to a $2.02 rise in a typical residential monthly bill, the PSC said. The company’s full request would have meant a $5.56 increase per month.

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