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For Immediate Release

Contact

Richard Yost

richard.yost@bge.com

BGE Economic Impact Exceeds $5.4 Billion

BALTIMORE (Feb. 5, 2019) – BGE, one of the 25 largest private employers in Maryland with approximately 3,200 employees, had an estimated economic impact of nearly $5.4 billion of output, supported more than 11,200 jobs and produced more than $1 billion in labor income in its service area during 2017 according to the Economic Alliance of Greater Baltimore (EAGB).

"BGE works every day to power a cleaner and brighter future for our customers and communities and we take pride in our ability to serve as an economic engine for the people of Maryland," said BGE CEO Calvin G. Butler Jr. "A strong economy powers our community, which is why we continue to invest in our infrastructure, develop unique economic incentives for growing businesses, nourish diverse suppliers, and build a local talent pipeline. Purposeful spending, workforce development, and cultivating local partners will continue to move BGE and Maryland forward."

BGE's total economic impact is comparable to the legal services and non-residential construction industries in its service area. EAGB analyzed BGE's 2017 general operations and measured direct, indirect and induced economic impact using the IMPLAN model.

Based on 2017 data, EAGB found that BGE's ongoing energy management programs and charitable giving have a positive economic impact on our communities:

  • Energy management programs had an estimated economic impact of more than $462 million of output, more than 1,900 jobs, and more than $111 million in labor income. BGE customers also saw nearly $175 million in savings through these programs.
  • Charitable contributions of nearly $5 million supported nearly $8 million of output and $2 million in labor income.

In addition, since its inception in 2015, the company's Smart Energy Economic DevelopmentSM (SEEDSM) Program has approved incentives for 65 businesses which are expected to contribute to the addition of more than 6,700 new jobs in Maryland. New and expanding businesses creating new full-time employment can qualify for SEED discounts on natural gas and electric connection and usage costs.

BGE invested more than $9 billion in system upgrades and expansions since 2002 and an additional $5.3 billion will be invested during the next five years. These include investments in natural gas pipes, utility poles, overhead power lines, underground cable and other equipment.

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BGE, founded in 1816 as the nation's first gas utility and headquartered in Baltimore, is Maryland's largest natural gas and electric utility. The company's approximately 3,200 employees are committed to safe and reliable energy delivery to more than 1.25 million electric customers and more than 650,000 natural gas customers in central Maryland.  In the J.D. Power 2017 and 2018 Electric Utility Business Customer Satisfaction Study SM  BGE was ranked Highest in Customer Satisfaction with Business Electric Service in the East among Large Utilities. In addition, in the J.D. Power 2018 Gas Utility Business Customer Satisfaction Study SM   BGE received Best in Customer Satisfaction with Business Natural Gas Service in the East. BGE is a subsidiary of Exelon Corporation (NYSE: EXC), the nation's leading competitive energy provider. Like us on Facebook and follow us on Twitter, YouTube  and Flickr.

Baltimore Gas and Electric Company (or "BGE") received the highest score in the East Large segment of the 2018 Electric Utility Business Customer Satisfaction Study and the East Region of the 2018 Gas Utility Business Customer Satisfaction Study of electric and gas utility customer satisfaction among business customers. Visit jdpower.com/awards.

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