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Potomac Edison seeks $44M in rate increases for new equipment, maintenance
Daily Record Staff//March 23, 2023
Potomac Edison seeks $44M in rate increases for new equipment, maintenance
//March 23, 2023
Potomac Edison, a subsidiary of FirstEnergy Corp., requested $44 million in rate increases from the Maryland Public Service Commission (PSC) to add additional energy grid equipment upgrades and provide ongoing maintenance for newly installed equipment that enhances and modernizes the electric system.
Upon approval of the base rate adjustment, Potomac Edison customers would continue to pay the lowest electric rates among Maryland’s investor-owned regulated electric distribution companies. The average Potomac Edison residential customer using 1,000 kilowatt hours per month would see a 9.7% overall rate increase, or about $9.50 monthly.
Potomac Edison has grown significantly in the past five years, now serving approximately 20,000 more customers than it did during its previous base rate review. The company currently provides power to about 285,000 customers in all or parts of Allegany, Carroll, Frederick, Garrett, Howard, Montgomery and Washington counties. Potomac Edison also serves about 151,000 customers in the Eastern Panhandle of West Virginia who would be unaffected by the rate review.
The rate review complies with a 2019 PSC order requiring Potomac Edison to file a new rate plan by 2023 at the end of its first Electric Distribution Investment Surcharge (EDIS). As part of this rate review, Potomac Edison is requesting a second phase of EDIS to build on the measurable success of investments made in phase one.
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