Feb 4, 2008
On January 22, BGE and Maryland state officials announced the company’s electric rates would go up about 5 ½% starting in June. Less than a week later, the company said it might sue the state to wring another 386 million dollars from BGE customers. And this comes on top of a 70% increase in electric rates that BGE imposed in just one year!
No wonder why BGE’s parent company, Constellation Energy, announced that its profits increased by over one-third in the fourth quarter of 2007 to almost 260 million dollars.
Yet they still want more.
Clearly no matter how much the power and utility companies make off us, their thirst for money is never satisfied. Their greed has no limits.