A bi-partisan group of legislators are speaking out against the latest proposed Delmarva Power electric rate increase.
The utilities company filed a $42 million request last month. It’s the third straight year Delmarva Power has asked to hike electric rates. The utilities company has requested 82.6 million dollars in rate increases since 2011. It got 39 million dollars in 2011 and 2012, with this most recent filing still being processed.
Rep. John Kowalko (D-Newark South) says the constant jump in Delawareans’ bills in a stagnant economy is a poor move on the company’s part.
“It reflects a very significant lack of corporate conscious and responsibility and I think that’s what it boils down to. We have a system that right now allows for that and that’s [what] I want to work on correcting first,” said Kowalko.
Delmarva Power spokesperson Nicholas Morici says they need the money for infrastructure upgrades. That’s despite its parent company, Pepco Holdings, posting $285 million in profits for 2012.
“We’re a company that’s going to continue to invest in the system and with that investment, we do seek return on that investment. We’ve proven that the benefits to our system far outweigh the costs with our reliability,” said Morici.
If the Public Services Commission approves the application, the average customer would pay about seven dollars and 60 cents more per month.