WASHINGTON — It’s being called a monumental increase that could affect the power bills of thousands of D.C. residents. On Thursday morning, Pepco filed with the Public Service Commission asking it approve the largest rate increase in decades.
Pepco is asking for an $85.5 million rate increase that would amount to a roughly 5 percent bump on D.C. customers’ power bills.
“It looks big but … we’re filing over three years. If you look at it over three years, it’s 1.5 percent per year, which is barely what inflation is. It’s actual very reasonable,” said Vincent Morris with Pepco.
As part of the $6.8 billion Pepco-Exelon merger, residents received a $50 credit in April that would protect them from rate increases through 2019.
“Now that $50 already covers the entire cost of the rate increased assuming it was approved,” Morris said.
In reaction to the request, the Office of the People’s Council released a statement saying, in part, it will “ensure any increase is based only on the expenses necessary to keep the lights on.”
Pointing to the rising cost of living in the District, the release said, “These trends demand that OPC double-down on its mission to protect District residents in every ward in every utility rate case.”
D.C. Council members Mary Cheh and Elissa Silverman slammed Pepco’s request for a rate increase, writing in a joint statement:
“No sooner does the ink dry on the merger than Pepco issues a request for District residents to pay the largest single rate increase in decades. Cheh had been a vocal opponent of the Pepco-Exelon merger, and in Thursday’s statement urged the Public Service Commission to “push back against this exorbitant request.”
Silverman and Cheh add that they want the District to pursue a public power option.
Since 2006, Pepco has been received almost $96 million in four rate cases, according to the OPC.
