Pepco, BGE File Giant Losses From Week Following First 24 Hours Of Derecho
ANNAPOLIS, Md. (CBSDC) Pepco and BGE are no longer billing customers for most of the time they were without power during the 2012 derecho storm, and the result for them is massive reported losses.
Pepco and BGE are claiming $2.4 million in losses from not being able to bill its Maryland customers after the first 24-hour period without power. Of course, that means they can and will bill customers for the first 24 hours with no power because of the Maryland Bill Stabilization Adjustment (BSA).
Montgomery County Consumer Protection Director Eric Friedman told 9 News Now, “Most people didn’t even know about this BSA. Now when they find out about it, they’re outraged.”
According to a Maryland report discovered by 9 News Now, Pepco claims losses of $1.19M and BGE claims losses of $1.27 in the week following the first 24 hours of the storm. Friedman said those numbers make it likely the amount customers will be billed for will exceed $1 million.
Robert Gould, Vice President of BGE, told 9 News Now, “The first 24 hour period that the utility is entitled to under the PSC’s (Public Service Commission) order is estimated to be about $600…or about $0.49 per customer.”