Pepco, BGE and Delmarva Power announced plans to seek regulatory approval to provide approximately $160 million in tax refund benefits to Maryland customers.
The proposed benefits include approximately $110 million for BGE customers, $30 million for Pepco customers and $20 million for Delmarva Power customers. The refunds are tied to a recent Maryland court decision involving state taxes previously collected from utilities, which is expected to result in the state returning tax overpayments and related interest.
The utilities said they intend to pass their portions of those funds along to customers. The proposal remains subject to the regulatory process, with the companies working with the State of Maryland and the Maryland Public Service Commission to determine how and when the benefits would be distributed.
