From 1980 – 2022, electric companies raised their rates an average of 6% per year. Experts say they expect that to continue in the future, although recent price hikes have been far greater! |
Date |
Electric Company |
Raise in Electric Rate |
December 1, 2023 |
BGE |
Customers experienced an 18% increase in electric rates (price increased from 9.983 cents per kWh to 11.761 cents). |
July, 2023 |
Potomac Edison |
Filed to increase the average customers’ bill by 10% in order to raise an additional $50,000,000 in capital. |
4Q 2023 |
PEPCO |
Announced steep price hikes for residential customers in Maryland that will cause electric bills to increase by over 25% in the coming months. |
Jan 2023 – Dec 2023 |
Delmarva |
Increased their rates 26% on their Maryland residential customer. |
June, 2023 |
First Energy |
Increased their rates a whopping 91%! |