For Immediate Release
Reduced rates, energy conservation and mild weather are leading to significant savings while electric service reliability continues to improve for customers
BALTIMORE (March 22, 2017) – Baltimore Gas and Electric Company (BGE) residential electric customer bills were down 25 percent on average this winter compared to winter bills from two years ago. This translates to an average customer savings of $72 per month during this past winter. Customers also used less electricity this winter through February thanks to mild weather, participation in energy efficiency programs, and by managing their energy use with detailed, real-time information provided by smart meters.
Lower commodity prices, which are set by global markets, are also a significant factor. In addition to the savings created by efficiency and lower commodity costs, beginning this month BGE residential electric customers' bills also will be additionally reduced by an average of $5.47 with BGE's retirement of long-term bonds used to fund past power purchase costs. The average BGE residential customer's total monthly bill remains lower than 2008 levels.
"Partnering with our customers so they can manage their monthly usage to have greater control of the cost of their electric service is a win-win. Lower usage contributes to lower bills and helps us meet our efficiency goals while also benefiting the environment," said Rob Biagiotti, vice president and chief customer officer for BGE. "At the same time, we are also investing more than ever in equipment upgrades and maintenance to better serve our customers with quality electric power and safe, reliable natural gas. This has resulted in significant improvements in reliability for our customers."
In 2016, the average number of electric service interruptions was the fourth lowest rate in BGE's history, and when customers did experience an outage, BGE restored power faster than ever before. The average length of a service interruption has been reduced by 49 minutes over the last five years.
Customers can maximize their savings opportunities through BGE's Smart Energy Savers Program® at BGEsmartenergy.com which offers rebates on efficiency measures and information on ways to reduce energy use. Rebates and discounts on energy-saving products such as appliances, HVAC systems and LED lightbulbs are available through the program. Since its launch in 2009, customers have purchased more than 25 million energy-saving LED and CFL light bulbs, saving nearly $40 million at checkout with instant discounts and enough electricity to light more than 117,000 homes for a year.
BGE customers have also scheduled more than 200,000 Quick Home Energy Check-ups, which help identify solutions to save energy and money. Through the Check-ups, customers have saved nearly 110,000 megawatt-hours of electricity. The BGE Smart Energy Savers Program supports EmPOWER Maryland Energy Efficiency Act.
BGE, founded in 1816 as the nation's first gas utility, is Maryland's largest natural gas and electric utility. Headquartered in Baltimore, BGE delivers power to more than 1.25 million electric customers and more than 650,000 natural gas customers in central Maryland. The company's approximately 3,200 employees are committed to the safe and reliable delivery of natural gas and electricity, as well as enhanced energy management, conservation, environmental stewardship and community assistance. 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.