Pepco Plans To Seek Another Rate Increase

As appeals of its July rate increase progress in court, Pepco Holdings Inc. told investors Wednesday that it will file yet another request to raise its rates by the end of the year.

Joseph M. Rigby, chairman, president and chief executive officer, said the outcome of the company’s most recent request makes it necessary to file another rate case. The company will also continue to work to reduce regulatory lag and ensure timely recovery of its costs, Rigby said, citing upfront surcharges as a means to that end.

“We will remain very active in the regulatory arena,” he said.

On July 12, for the third time in four years, the Maryland Public Service Commission denied the lion’s share of Pepco’s request for higher rates when it granted Pepco $27.9 million of a $60.8 million request.
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