Initial Filing Date: 5/19/2022
Summary: Rate increase over 3 year period – 2.11% yr 1, 2.11% yr 2,2.58% yr 3
Effective Date: 1/1/2023
On May 19, 2022, Delmarva Power & Light submitted to the Public Service Commission an Application for Adjustment to its Retail Rates for the Distribution of Electric Energy and to implement a Multi-Year Plan. The Company’s proposal includes the acceleration of certain tax benefits during the first two years of the MYP, resulting in 50% offsets in 2023 and 25% offsets in 2024. The proposed cumulative rate increase in 2023 after offsets is $11.3 million, and $22.9 million after offsets in 2024. The impact of the requested distribution rate increase on the typical residential Standard Offer Service customer using 1,004 kWh per month is $3.42 and $3.50 per month for rate years one and two, respectively. For rate year three, the per-month increase is $4.37. The total bill increases are 2.11%, 2.11%, and 2.58% for rate years one, two, and three, respectively.