Summary
This Form 8-K filing reports that Exelon Corporation's subsidiary, Baltimore Gas and Electric Company (BGE), has applied to the Maryland Public Service Commission (MDPSC) for an increase in its electric and gas distribution base rates. The requested increase amounts to $101.5 million for electric and $29.7 million for gas, with BGE seeking specific rates of return on equity for each. These new rates are anticipated to be effective in December 2013, pending regulatory approval. Investors should note that the outcome of this rate case is uncertain, as BGE cannot predict the extent to which the MDPSC will approve the requested increases.
Key Highlights
- 1Baltimore Gas and Electric Company (BGE) filed an application with the Maryland Public Service Commission (MDPSC) on May 17, 2013.
- 2BGE is seeking an increase of $101.5 million in its electric distribution base rates.
- 3BGE is also seeking an increase of $29.7 million in its gas distribution base rates.
- 4The company is requesting rates of return on equity of 10.50% for electric and 10.35% for gas distribution.
- 5The proposed new rates are expected to become effective in December 2013, subject to MDPSC approval.
- 6BGE acknowledges that the final approved rate increases may differ from the amounts requested.