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Yahoo
13-06-2025
- Business
- Yahoo
Amid high energy bills, Moore touts $19 million in ratepayer relief from Exelon
Gov. Wes Moore (D), in Annapolis Thursday, touts a $19 million donation from Exelon to help low- and middle-income ratepayers hit by steadily rising power bills. (Photo by Christine Condon/Maryland Matters) The parent company of BGE, Pepco and Delmarva Power will distribute $19 million to help its low- and middle-income customers pay their bills, as rates continue to rise, it announced Thursday. Exelon's one-time donation to its Customer Relief Fund will be split between local nonprofits to actually distribute to customers in need. It's part of a larger $50 million Exelon donation spread out between states the company serves. During an event Thursday at the Salvation Army of Annapolis, Maryland Gov. Wes Moore (D) cheered the Exelon program and added that he hopes to take future steps regarding climbing energy costs. 'This is not a final step, but it's an important continuation of the work that we are doing to provide relief to Marylanders who need it the most,' Moore said. 'Maryland is ready to lead the country in what it means to put our people first.' Consumer advocates welcomed the announcement, but put it in perspective. 'It's welcome news that the Exelon Corp. is donating $19 million to direct relief for Maryland ratepayers. But let's not forget that Exelon and its subsidiaries have been driving affordability problems in the first place through relentless rate hikes,' said Emily Scarr, a senior advisor for the nonprofit Maryland PIRG, which advocates for ratepayers. She argued that Exelon's rate hikes, outpacing inflation, have led to 'massive profits and unaffordable home heating and cooling.' In a news release announcing the program, Exelon President and CEO Calvin Butler blamed the high energy bills on 'increased supply costs.' 'The Customer Relief Fund, in addition to our existing year-round programs supporting customers with energy assistance, once again demonstrates Exelon's commitment to our communities,' Butler's statement said. 'We continue to work with federal, state and local officials to develop long-term solutions that ensure customers affordable, reliable and sustainable energy.' The moves come as Maryland ratepayers brace for the latest blow to their monthly utility bills. In the coming months, customers will feel the effects of a record-setting energy capacity auction at PJM Interconnection, which operates the electricity grid serving Maryland, Washington D.C. and a dozen other states. As a result of the auction, in the year beginning June 1, utilities and retail suppliers of energy will pay $14.7 billion for electric capacity, a jump from the $2.2 billion the previous year — which will flow down to consumers. Some are blaming PJM for botching the auction by failing to accurately evaluate the amount of power already available, driging up costs. They also say its policies have constrained supply at a time of increasing demand, by preventing renewable energy from coming online quickly. Moore, standing beside BGE and Pepco officials during his remarks, zeroed in on PJM. 'It is unacceptable that inefficient and outdated processes at PJM are leading to bill increases — not just in Maryland, but across all 13 states and D.C.,' he said. But ratepayer advocates argue that utility companies, including Exelon, have contributed to the energy affordability crisis as well, in part because of overzealous infrastructure spending. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX They point to the 'distribution' charges on electric bills, which fund substations, poles, wires, trucks and other equipment for their local utility. Between 2010 and 2024, the distribution rates for Exelon utilities Delmarva Power and Pepco more than doubled, well outpacing the rate of inflation; by comparison, Potomac Edison rates increased with inflation, according to a June report from the Maryland Office of People's Counsel. Whatever the cause, prices keep rising, and customers keep falling farther behind: At BGE, for example, residential customers were recently $171 million in arrears, compared to $97 million just last June. At Thursday's event in Annapolis, BGE CEO Tamla Olivier said that addressing the high energy burden in Maryland will require participation from a number of stakeholders. 'We're not going to be able to solve this as a utility, the state alone or competitive markets alone. It will take all of us together to make sure we are serving the needs of our customers,' Olivier said. United Way of Central Maryland will administer $15 million of Exelon's Customer Relief Fund for BGE customers, and the Salvation Army will administer $2.5 million for Pepco customers. Delmarva Power customers will receive $1.5 million, distributed by the Harford Community Action Agency, Shore UP! and the Salvation Army. Eligibility requirements and distribution methods will differ from utility to utility, said Exelon's news release, which encouraged customers to visit their local utility's website for more details. It said eligible customers 'may see as much as several hundred dollars in relief.' Franklyn Baker, president and CEO of the United Way of Central Maryland, said energy bills have been a frequent source of calls to its 211 hotline for assistance with food, health care, rent or mortgage, utility or other bills, and child care. 'We continue to see a rise in the number of calls to 211 related to energy assistance,' Baker said. 'And especially as summer heat intensifies everyday costs rise, and the cost of utilities will be a burden that many in our community will not be able to carry, including some — listen to this — who have never applied for assistance before.' Maryland electric customers can expect to pay anywhere from $4 to $18 a month, according to the Office of People's Counsel report. It said SMECO customers will see increases starting June 1, while Pepco and Delmarva Power customers will see bills go up in August and Potomac Edison customers will get hit in their October bills. The Exelon fund is not the only effort to shave costs for customers. The Maryland Public Service Commission recently ordered BGE to spread its costs increases over several months to blunt the impact And state lawmakers in the last legislative session tapped a renewable energy fund for $200 million, which will be used top give credit directly to ratepayers. The one-time payments are expected to average $80, split between a bill in the summer and another in the winter. The rebate was part of a larger package of energy reforms, which also created a 'fast-track' permit process at the PSC for new power generation and battery energy storage technology. Moore, who who signed the bill in May, said that the newly announced $19 million 'goes hand in hand' with the legislature's rebate. But in response to a question from a reporter, Moore said that lawmakers 'didn't go far enough' to incentivize new power generation, noting that a bill that his administration introduced, to boost nuclear power in the state, did not advance. 'We introduced legislation this year that would have allowed more nuclear into the state, that would have allowed nuclear to be seen as a clean energy source, which it is,' Moore said. 'I'm proud of the work we did in partnership with the legislature, but I want to be crystal clear: It did not go far enough.'
Business Wire
12-06-2025
- Business
- Business Wire
'Commitment to Our Communities:' Exelon Steps in to Provide $50 Million Customer Relief Fund for Customers Struggling with Higher Energy Supply Costs
CHICAGO--(BUSINESS WIRE)--Exelon (Nasdaq: EXC) today announced a $50 million Customer Relief Fund to help low- and middle-income (LMI) customers struggling as energy supply costs escalate this summer. Exelon's local energy companies – Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco – will join with trusted local nonprofits to determine customer eligibility and administer relief. Each nonprofit will receive a portion of the $50 million commitment as a one-time charitable contribution from Exelon. Beginning in early July, customers of Atlantic City Electric, BGE, ComEd, Delmarva Power and Pepco will be able to apply for assistance through the Customer Relief Fund. Customers of PECO in the Philadelphia area will be able to apply in August. Qualifying customers may see as much as several hundred dollars in relief. The fund is a temporary, one-time assistance program designed to help manage the impact of rising energy supply costs as demand increases and supply is not there to meet it. Although all customers are affected by these increases, the fund is designed to provide support to those who may be most in need. While Exelon does not control energy supply costs, the company is committed to advocating for customers and working to find solutions with those who do. 'Exelon understands that high energy bills, caused by increased supply costs, are extremely stressful for low- and middle-income customers – which includes many seniors, small business owners and families experiencing challenges,' said Exelon President and CEO Calvin Butler. 'The Customer Relief Fund, in addition to our existing year-round programs supporting customers with energy assistance, once again demonstrates Exelon's commitment to our communities. We continue to work with federal, state and local officials to develop long-term solutions that ensure customers affordable, reliable and sustainable energy.' How the Customer Relief Fund Will Work Exelon is making a one-time charitable contribution totaling $50 million to trusted community nonprofits to assist customers. In these challenging times, Exelon hopes this contribution will catalyze additional philanthropic giving to support communities. Details regarding administration of the Customer Relief Fund, including eligibility and disbursement of relief, will vary by operating company and its alliance with local nonprofits. Customers are encouraged to visit the websites of their local energy companies to learn how they can secure local support. Helping Customers Cope Though the Customer Relief Fund is a temporary program designed to address the current needs of customers, it is a key part of Exelon's and its local energy companies' comprehensive efforts helping customers afford and manage energy costs, including: Energy efficiency programs to help customers reduce energy consumption. Working with state and local governments to develop innovative programs that provide customers access to additional relief for high energy costs. Budget billing and flexible payment options to help customers manage costs, especially during higher usage periods. In addition to these short- and medium-term efforts to help customers cope with higher energy costs, Exelon continues working with federal, state and local officials to develop long-term solutions that deliver reliable and affordable energy to customers, including bringing more electricity generation online quickly through reforms to promote the re-use of retiring or retired generation sites. By accelerating the delivery of new, clean sources of power – while supporting local communities and embracing best practices from other parts of the country – we can work with customers to decrease overall electricity demands when the grid is stressed. Exelon remains committed to serving customers and communities in times of need. The Customer Relief Fund is part of Exelon's broader support for customers, which in 2024 included $492.1 million in energy assistance programs serving 520,000 customers and nearly $1 billion in energy efficiency programs to help customers save energy and money. Though energy costs continue rising, Exelon customers have seen rates 21 percent below the largest U.S. cities, while also experiencing a 35 percent improvement in reliability because of our grid investments. About Exelon Exelon (Nasdaq: EXC) is a Fortune 200 company and one of the nation's largest utility companies, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Exelon's 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on X, @Exelon.
Yahoo
12-06-2025
- Business
- Yahoo
"Commitment to Our Communities:" Exelon Steps in to Provide $50 Million Customer Relief Fund for Customers Struggling with Higher Energy Supply Costs
In early July and August, Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco low- and middle-income customers can begin applying for relief to ease the expected impact of higher summer energy supply costs. Trusted local nonprofits to join with Exelon's local energy companies and administer relief thanks to charitable contributions from Exelon. CHICAGO, June 12, 2025--(BUSINESS WIRE)--Exelon (Nasdaq: EXC) today announced a $50 million Customer Relief Fund to help low- and middle-income (LMI) customers struggling as energy supply costs escalate this summer. Exelon's local energy companies – Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco – will join with trusted local nonprofits to determine customer eligibility and administer relief. Each nonprofit will receive a portion of the $50 million commitment as a one-time charitable contribution from Exelon. Beginning in early July, customers of Atlantic City Electric, BGE, ComEd, Delmarva Power and Pepco will be able to apply for assistance through the Customer Relief Fund. Customers of PECO in the Philadelphia area will be able to apply in August. Qualifying customers may see as much as several hundred dollars in relief. The fund is a temporary, one-time assistance program designed to help manage the impact of rising energy supply costs as demand increases and supply is not there to meet it. Although all customers are affected by these increases, the fund is designed to provide support to those who may be most in need. While Exelon does not control energy supply costs, the company is committed to advocating for customers and working to find solutions with those who do. "Exelon understands that high energy bills, caused by increased supply costs, are extremely stressful for low- and middle-income customers – which includes many seniors, small business owners and families experiencing challenges," said Exelon President and CEO Calvin Butler. "The Customer Relief Fund, in addition to our existing year-round programs supporting customers with energy assistance, once again demonstrates Exelon's commitment to our communities. We continue to work with federal, state and local officials to develop long-term solutions that ensure customers affordable, reliable and sustainable energy." How the Customer Relief Fund Will Work Exelon is making a one-time charitable contribution totaling $50 million to trusted community nonprofits to assist customers. In these challenging times, Exelon hopes this contribution will catalyze additional philanthropic giving to support communities. Details regarding administration of the Customer Relief Fund, including eligibility and disbursement of relief, will vary by operating company and its alliance with local nonprofits. Customers are encouraged to visit the websites of their local energy companies to learn how they can secure local support. Helping Customers Cope Though the Customer Relief Fund is a temporary program designed to address the current needs of customers, it is a key part of Exelon's and its local energy companies' comprehensive efforts helping customers afford and manage energy costs, including: Energy efficiency programs to help customers reduce energy consumption. Working with state and local governments to develop innovative programs that provide customers access to additional relief for high energy costs. Budget billing and flexible payment options to help customers manage costs, especially during higher usage periods. In addition to these short- and medium-term efforts to help customers cope with higher energy costs, Exelon continues working with federal, state and local officials to develop long-term solutions that deliver reliable and affordable energy to customers, including bringing more electricity generation online quickly through reforms to promote the re-use of retiring or retired generation sites. By accelerating the delivery of new, clean sources of power – while supporting local communities and embracing best practices from other parts of the country – we can work with customers to decrease overall electricity demands when the grid is stressed. Exelon remains committed to serving customers and communities in times of need. The Customer Relief Fund is part of Exelon's broader support for customers, which in 2024 included $492.1 million in energy assistance programs serving 520,000 customers and nearly $1 billion in energy efficiency programs to help customers save energy and money. Though energy costs continue rising, Exelon customers have seen rates 21 percent below the largest U.S. cities, while also experiencing a 35 percent improvement in reliability because of our grid investments. About Exelon Exelon (Nasdaq: EXC) is a Fortune 200 company and one of the nation's largest utility companies, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Exelon's 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on X, @Exelon. View source version on Contacts Timothy Stokes312-394-7417 Media Melden Sie sich an, um Ihr Portfolio aufzurufen.
CBS News
12-06-2025
- Business
- CBS News
Governor Wes Moore to announce initiative to lower energy costs in Maryland
Amid rising energy costs, Maryland Governor Wes Moore plans to announce a new initiative to lower energy costs Thursday morning. On Jan. 1, Baltimore Gas and Electric raised rates, increasing the average residential gas bill by 9% and the electric bill by 7%. The cost of energy in Maryland continued to rise BGE customers and state leaders publicly challenged the increases, which were a part of the company's planned multi-year utility rate hikes. In February, the Baltimore City Council called on state regulators to stop the increases, which totaled $602 million over the course of three years. BGE said the increase was necessary to cover the cost of continued investments in gas and electric distribution systems. In March, City Council President Zeke Cohen led a community walk, going door to door to collect signatures on a petition that asked the Maryland Public Service Commission (PSC) to stop the hikes. Some customers experienced price hikes larger than the stated increase rates, with some residents reporting that their winter bills climbed by more than $200. In response to the hikes, lawmakers passed a bill, the Next Generation Energy Act, which aims to reduce costs by directing the Public Service Commission to reject multi-year rate hikes that don't demonstrate customer benefit, and prohibiting utilities from charging ratepayers for certain expenses like trade association memberships and private planes. Why have energy costs increased? BGE said those additional increases seen by consumers were a result of an increase in the price of natural gas and increased gas usage. Then again on June 1, BGE's electricity cost to consumers rose by $16 monthly, which the company said was due to an unexpected spike in capacity auction prices and the Talen Energy reliability-must-run (RMR) fee. When BGE announced the increase, the Maryland General Assembly wrote a letter urging federal legislators to stop the increase. They blamed PJM Interconnection, the region's power grid operator, for miscalculating the supply and demand for electricity during the capacity market auction, a competitive bidding process where power companies promise to make their electricity generation available in the future.
CBS News
01-06-2025
- Business
- CBS News
BGE to shift supply costs to lower-usage months, reducing peak season bills
The Maryland Public Service Commission issued an order seeking to alleviate high energy bills for customers. The order requires BGE to shift recovery of some supply costs to lower-usage months over a six-month period. It means customers will pay less supply costs during the winter and summer, a time when bills are typically higher. However, they'll see an increase in the fall and spring when bills are lower. The commission said the order will benefit customers by "flattening costs and help[ing] mitigate excessively high electricity bills during peak months." The commission originally considered this idea during an April meeting, after which the Commission requested and received proposals to spread costs over four-, six-, and twenty-four-month intervals. Commission Chair Frederick Hoover said in a statement, "The Commission took these actions to mitigate the impacts felt by customers as a result of higher-than-expected energy costs, coupled with potential high usage in the coming months." In response, BGE wrote in a statement: "The Commission has decided to shift the recovery of some supply costs caused by last summer's PJM Capacity Auction results to lower-usage months over a six-month period. We will continue working with the Commission and parties to mitigate the impact of higher energy costs for our customers. In accordance with the PSC's order, adjusted residential electric supply rates will go into effect for usage starting June 1." The commission adds that they support the Maryland Office of People's Counsel and several other PJM state consumer advocates in a complaint against the Federal Energy Regulatory Commission. The complaint challenges high wholesale capacity prices, arguing that PJM's most recent capacity auction will impose unjust and unreasonable charges on ratepayers. Electricity prices increase on June 1 BGE said the increase in electricity prices is the result of an unexpected spike in capacity auction prices and the Talen Energy reliability-must-run (RMR) fee. A capacity market auction is a competitive bidding process where power companies promise to make their electricity generation available in the future. "Generally, Maryland has an acute imbalance between electricity supply and demand from customers," said BGE Spokesperson Nick Alexopulos. He said customers are paying to keep some power plants, set to retire, online. "Customers have to pay the owner of those power plants, Talen Energy, a certain fee called the reliability-must-run," Alexopulos said. "They're going to have to pay that every month until the power plants retire." What is the Talen Energy RMR fee? The Talen Energy RMR fee refers to the fixed payments made to Talen Energy for continuing to operate its Brandon Shores and H.A. Wagner power plants in Maryland, beyond their planned retirement dates. PJM Interconnection, the regional grid operator, pays a fee of $312 per megawatt per day for the Brandon Shores plant, amounting to approximately $145 million annually, along with a $5 million performance incentive. For the H.A. Wagner plant, PJM pays a fee of $137 per megawatt per day, which totals about $35 million per year, plus a $2.5 million performance incentive. The details are outlined in a settlement agreement reached in January 2025.
