• Pepco had been seeking a $68 million increase in rates, but the Maryland Public Service Commission only granted the company $18.1 million, immediately raising average residential bills by $2 as opposed to $5.50.
• Part of the company’s initial increase request cited the need for upfront charges to fund system upgrades as well as improve reliability, which is an area Pepco is routinely rated poorly on.
• Region President Thomas Graham released a statement saying that “this decision is counterproductive to [Pepco’s] goals to improve” its service and stated that additional cuts in as yet undetermined areas will need to be made.

From the article:

Pepco officials said Tuesday that the much-reduced rate increase they received in Maryland leaves them questioning whether they can sustain the investment needed to improve reliability for its 530,000 state customers.

Thomas Graham, Pepco region president, said in a statement that the electric provider “will have to find cuts in other spending categories.” He did not specify where those would come from. ...