DOVER, Del. (AP)- Delmarva Power is seeking to be reimbursed $39 million for replacing its Delaware customers' old meters with smart ones that allow remote access.
In a recent filing the utility asks the state Public Service Commission to create a process to recoup the money over 15 years.
The installation cost $72 million, most of which was offset by savings. But the utility says $26.5 million of the amount it's seeking would make up for the lost value of the old meters, which had not been fully depreciated.
Delmarva says it would only seek to recover funds from customers after implementing programs to help them save. Rep. John Kowalko, the House Energy Committee chairman, says it's a business expense that should be borne by shareholders.
