WASHINGTON — Less than a month after Exelon Corporation completed its $6.8 billion acquisition of Pepco Holdings Inc., Pepco is seeking a rate hike for customers in Maryland.
Pepco filed its request with the Maryland Public Service Commission Tuesday. The public utility seeks a 10 percent rate increase for its 560,000 customers in Prince George’s and Montgomery counties. If approved, the average customer’s bill would go up by $15.80 per month.
Pepco says it will use the rate increase to extend a grid-resiliency program in Maryland. If approved, it would mean $127 million in additional revenue for Pepco.
It would be the first Pepco rate increase in Maryland since 2014. Pepco is not currently seeking a rate increase for customers in the District.
In a statement, Pepco said that its request for a rate increase in Maryland is unrelated to its merger with Exelon, and would have been made regardless of the merger.
The two companies officially united in March after the D.C. Public Service Commission approved the deal.
Under the terms of the Exelon merger, Maryland ratepayers will get $100 credits on their residential bills.
Pepco said Monday that D.C. customers will see a $54.99 credit on their monthly bill in either April or May as part of the merger conditions approved by the D.C. Public Service Commission.
