Interim Update - July 17, 200717-Jul-2007
July 17, 2007
Many of you have written to me concerned about your ever-increasing electric bills, particularly if you are a BGE customer. As you know, the General Assembly last year deferred a large BGE rate increase to soften the blow on consumers and to provide time for the possibility of long-term solutions.
That being said, I want to take this opportunity to update your on three developments which will help us develop a long term policy to stabilize utility rates in Maryland.
The Public Service Commission is conducting a study to determine whether re-regulation of the electric utility industry is feasible- and, if so, what impact it could have on consumers. The PSC anticipates its research will be finished this fall, in time to make recommendations to the Governor and General Assembly early next year.
In addition, the Federal Energy Regulatory Commission has proposed rules which would require energy wholesalers to operate more openly and submit to more scrutiny from regulators and watchdog organizations. If adopted, these changes will allow the PSC to examine whether wholesale market practices are fair to ratepayers – which could have a major impact on consumers in Maryland.
Finally, Governor O'Malley announced plans for a summit on July 25 which will bring together the best and the brightest from across the state to help craft a long term plan for Maryland's energy market.
I will monitor developments at the PSC and the FERC as well as the Governor's energy summit. I look forward to working with the recommendations that emerge from these groups to develop a sensible and effective policy that protects consumers.
Very truly yours,
Harford and Cecil Counties