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From Order: 

[ *** ] ORDERED: (1) that the Multi-Year Rate Application filed by Potomac Electric Power Company on May 16, 2023 (as supplemented by the Company over the course of this proceeding), seeking an increase in its electric distribution rates of $117.2 million for the twelve months ending March 31, 2025, $160.5 million for the twelve months ending March 31, 2026, $193.2 million for the twelve months ending March 31, 2027, and $213.6 million for the proposed nine-month extension period ending December 31, 2027, is hereby denied, as discussed in the body of this Order; (2) that Pepco is hereby authorized to increase its Maryland electric distribution rates by no more than the amounts provided in Appendix A, labeled “Commission Approved Revenue Requirements” for service rendered on or after June 10, 2024, consistent with the findings in this Order; (3) that Pepco’s Smart Inverter Program is approved as a pilot and the Company is directed to work with the Commission’s PC 44 work group to explore the impact of smart inverter technology; (4) that Pepco is directed to file tariffs in compliance with this Order with the effective dates prescribed herein, subject to acceptance by the Commission; and (5) that any motions or requests not granted herein are deemed denied.

From Press Release: 

In a unanimous decision, the Maryland Public Service Commission has authorized a rate increase of $44.6 million for Potomac Electric Power Company (Pepco), based on forecasted data. In May 2023, the utility applied for a multi-year rate plan (MYP) requesting $117.2 million for the first year and reaching a total of $213.6 million over the course of the MYP period ending December 31, 2027, inclusive of a 9-month extension period requested by the utility. [ *** ] 

In its decision, the Commission reminded all parties in this case that any multi-year rate plan proposal would be subject to the “lessons-learned” proceedings for the pilot MYP, which is Baltimore Gas and Electric (BGE) since it was the first utility to file under the MYP pilot approved by the Commission in 2020. Because the Commission has not made any final multi-year plan ratemaking policy determinations, it notes that it would be inappropriate to make such determinations in this proceeding. Today’s decision approves just and reasonable rates for Pepco, while the Commission awaits an evaluation of BGE’s pilot MYP through the lessons learned proceedings, as well as the lessons learned from subsequent BGE and Pepco MYPs.
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Press Release
Order (06/10/2024)
Appendix A
Appendix B
9702 (05/16/2023)    
Potomac Electric Power Company’s Application For Adjustments To Its Retail Rates For The Distribution Of Electric Energy