Gov. Meyer Calls to Delay Upcoming Delmarva Power Rate Hike

DELAWARE – Governor Matt Meyer is urging the Delaware Public Service Commission (PSC) to keep Delmarva Power’s distribution rates at their current level while the Commission reviews the utility’s latest request for a rate increase.

In a letter sent to the Commission on Monday, Meyer asked regulators to use their authority under to prevent an interim rate increase from taking effect Jul. 9. The governor argued there is a high likelihood the temporary rate would exceed what PSC ultimately determines to be just and reasonable. Further, Meyer says Delmarva Power’s repeated rate increase requests have contributed to an affordability crisis for Delaware families, seniors and small businesses.

“For too long, Delaware families have been asked to absorb one rate increase after another while utilities continue to rake in record profits,” said Governor Meyer. “Temporarily suspending another rate hike request from a $48 billion monopoly is more in the public interest than shifting the costs to hardworking families that are deciding between paying their utility bills, their rent, or buying groceries this summer.”

The letter notes that low- and moderate-income households already spend up to 10 percent of their income on energy costs. Meyer also noted that Delmarva Power transferred more than $200 million in profits to its parent company, Exelon, last year while projecting annual earnings growth of five to seven percent through 2029.

Across the utility’s seven most recent base rate cases, the Commission ultimately approved less than what the company requested. WMDT previously reported on Delmarva Power’s base rate hike in January, in which the company raised costs by more than $67 million across it’s customers.

Meyer also requested that his letter, along with constituent complaints received by the Governor’s Office regarding rising electricity costs and supporting news coverage, be entered into the official record of the Commission’s pending proceedings.