For Immediate Release
Average bills to decrease while customers experience best reliability in company history
BALTIMORE (May 16, 2018) – The average BGE residential customer who purchases electricity from BGE will see a bill reduction of $11 a month starting June 1 due to the lowest electric commodity prices in a decade and distribution rate reductions spurred by federal tax reform.
"Customers are reaping the benefits of historic commodity prices and BGE's innovative and effective efficiency programs. Customers have greater control over the cost of their electric service through managing their energy use, which lowers their bills and helps us meet our efficiency goals," said Rodney Oddoye, vice president and chief customer officer for BGE. "Our customers are also experiencing the most reliable energy grid in our history. We've invested heavily in equipment upgrades and maintenance to better serve our customers with quality electric power and safe, reliable natural gas and it's paying off."
The average BGE residential customer's total monthly bill remains lower than 2008 levels. In addition, customers who take advantage of BGE's energy efficiency programs and who manage their energy use with real-time information provided by smart meters also use less electricity, save more on their bills.
Customers are also realizing the benefits of federal tax reductions that have resulted in monthly bills reductions amounting to $103 million in tax savings annually for all BGE customers.
While dropping energy supply costs have helped reduce customers' total bills, BGE's investments in modernizing energy delivery systems have improved service. In 2017, BGE customers experienced the lowest average number of electric outages and the fastest restoration of outages when they did occur in the company's history. The average number of outages surpassed the previous low, set in 2014, by nearly 20 percent. When customers did experience an outage, BGE restored power an average of five minutes faster than the previous record, set in 2016. During the past 10 years, the number of electric outages has decreased 49 percent and outage length has been reduced by 41 percent.
BGE offers programs that can help customers save energy and money, especially during times of higher temperatures that often lead to higher energy usage. The BGE Smart Energy Savers Program® can help identify new ways to save energy, money and the environment. The program, which supports the EmPOWER Maryland Energy Efficiency Act, has provided $779 million in rebates to BGE customers and helped customers save more than 3.3 million megawatt-hours of electricity. EmPOWER Maryland programs are funded by a charge on your electric bill. EmPOWER programs can help you reduce your electricity consumption and save you money.
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 power delivery to more than 1.25 million electric customers and more than 650,000 natural gas customers in central Maryland, as well as enhanced energy management, conservation, environmental stewardship and community assistance. J.D. Power's 2017 Electric Utility Business Customer Satisfaction Study SM ranked BGE highest in customer satisfaction with business electric service in the east among large utilities. The company also has an estimated annual economic impact of $5 billion of output in its service area, supporting more than 9,500 local jobs and producing $923 million in labor income. 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.