BALTIMORE (AP) - The Maryland Public Service Commission has approved an electricity rate hike for Pepco, but less than the utility requested.
The PSC said in a statement on Wednesday that Pepco, which serves Washington and Prince George's and Montgomery counties in Maryland, had asked to increase its electric distribution rates by $37.4 million.
The commission approved an increase of $8.75 million increase, saying it was enough to allow Pepco to improve its reliability.
The PSC says the rate hike, which takes effect on Friday, will raise a typical residential customer's monthly bill by $0.93, or less than 1 percent.
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