Dec 10, 2012
Baltimore Gas and Electric Co. wants to raise rates – around $6.62 per month more for electricity and $4.26 more for gas for the average customer. Only two and a half years ago, BGE already raised rates by $1.34 for electricity and 85 cents for natural gas. Meanwhile, in the Washington, D.C. area, Pepco wants $2 more from electricity customers, after already raising rates by $2 in July! The cost of energy has gone way down in the last two years. So why the rate increase?
Here’s where the money from rate increases goes: The CEO of BGE's parent company was paid 17 million dollars in 2011, 11% more than in 2010. Pepco’s CEO was paid seven million dollars in 2011, and the CFO got three million dollars!
It’s time to stop this power play!