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Utilities in Md. expect to reduce rates with new tax law

Cutline: Utilities such as BGE in Maryland regularly share information within their industry as well as conduct drills in an effort to stay ahead of a cyber breach. (Maximilian Franz/The Daily Record)

Utilities are asking Maryland state regulators to approve small rate reductions because of the new tax law.(File Photo/Maximilian Franz/The Daily Record)

Maryland residents may see lower utility bills following the federal tax overhaul.

Utility providers BGE, Pepco and Delmarva Power said Friday they will file requests with the Maryland Public Service Commission to reduce their utility rates.

The companies all benefit from the cut in corporate tax rates from 35 percent to 21 percent.

BGE estimated that it will be able to pass $82 million in tax savings on to its customers. If its proposal is accepted by the Public Service Commission, the average BGE customer would see a reduction of $2.31 on their monthly electric bill. If customers receive gas and electric service, the monthly reduction would be $4.27, effective in February.