Delmarva Power Files Plans to Pass Federal Tax Reduction Savings - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Delmarva Power Files Plans to Pass Federal Tax Reduction Savings to Maryland Customers

Posted: Feb 12, 2018 4:44 PM Updated:

SALISBURY, Md.- Delmarva Power announced Monday that it has filed plans with the Maryland Public Service Commission to pass along $13 million in tax savings to customers.

The company filed the proposal as a result of the federal Tax Cuts and Jobs Act. If approved by the PSC, the average Delmarva Power residential electric customer in Maryland will see a $3.82 decrease on their monthly bill beginning in March, the company said.

“These savings will help offset the rate changes that have been essential to our efforts in providing safe and reliable service for our customers,” Delmarva Power Region President Gary Stockbridge said.

Additionally, last week, the PSC announced its decision to approve a settlement agreement reached between Delmarva Power, the PSC staff and the Maryland Office of the People's Counsel on changes to electric delivery rates. If the PSC approves Delmarva Power's plan to pass along the tax savings to customers, it would fully offset the rate increase that will go into effect as a result of the settlement agreement.

 

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