Delmarva Issues Rate Refund
Monday, February 25, 2013
In December 2011, Delmarva Power filed for an electric distribution rate increase with the Delaware Public Service Commission (PSC). On July 3, 2012, pursuant to Delaware law, Delmarva Power implemented a temporary electric distribution rate increase of $24.8 million in Delaware while it awaited a final decision from the PSC regarding its request to raise distribution rates.
In December 2012, the PSC approved an electric distribution rate increase of $22 million, which took effect on January 1, 2013. An estimated $2.8 million difference between rates implemented and rates approved from July 2012 through December 2012 will be refunded to Delmarva Power’s Delaware customers, beginning February 2013. The refund amount will include interest, paid to the customer.
The typical residential customer who uses 1000 kWh hours of electricity a month should expect to see an average rate refund of $3.42, including interest. Customer refunds are issued as a bill credit and started on February 19, 2013.
A much smaller percentage of customers will receive their refund in a check. These customers had active accounts between July 2012 and December 2012 but no longer have an active Delmarva Power electric account.
About Delmarva Power: Delmarva Power, a public utility owned by Pepco Holdings, Inc. (NYSE: POM), provides safe and reliable energy to more than 500,000 electric delivery customers in Delaware and Maryland and over 122,000 natural gas delivery customers in northern Delaware.