logo
#

Latest news with #RatepayerFreedomAct

Maryland senate advances bill aimed at reducing energy costs
Maryland senate advances bill aimed at reducing energy costs

CBS News

time28-03-2025

  • Business
  • CBS News

Maryland senate advances bill aimed at reducing energy costs

The Maryland Senate has advanced a proposed bill aimed at reducing energy costs for Maryland residents. It's a win for residents and state leaders who have been frustrated by recent energy price hikes. The bill, which combines elements of the Ratepayer Protection Act and Ratepayer Freedom Act with the Next Generation Energy Act, now heads to the full Senate for consideration. Final approval from both chambers is needed by April 7. The legislation would require the Maryland Public Service Commission to reject multi-year rate hikes that don't "demonstrate a definite cost-savings to consumers." It also prohibits utilities from charging ratepayers for certain trade association memberships and private planes. The Ratepayer Protection Act, introduced by Maryland lawmakers earlier this year, aims to address BGE rate increases that have been affecting homeowners and businesses. The bill would require gas companies to prioritize identifying and addressing leaks rather than raising customer rates for pipeline spending. BGE's gas delivery rates have more than tripled since 2010 , while the company's profits increased from $147 million in 2010 to $485 million in 2023, according to the Office of the People's Counsel. The Baltimore City Council has expressed support for the Ratepayer Protection Act and planned to hold public hearings addressing high utility costs. Marylanders have struggled with significant energy bill increases, with some reporting $200 jumps between billing cycles. BGE spokesperson Nick Alexopolus said that planned price hikes beginning January 1st should have averaged about $7.77 , with customers expected to see roughly a $26 increase in their monthly bills by June. One Baltimore woman told WJZ she received a bill of $700 for a one-bedroom home, while a restaurant owner in Butcher's Hill said he saw increases of more than $1,000 over several months. BGE said the bill increases were due to distribution costs (the portion going directly to BGE), a spike in natural gas prices, and an increase in "Empower Maryland" fees set by the state. Maryland Governor Wes Moore told CBS News Baltimore that "the General Assembly needs to provide relief to ratepayers, while also addressing long-term structural problems creating low energy supply in the state." On Thursday, Baltimore City Council President Zeke Cohen and other leaders held a community walk in East Baltimore to get feedback on the rising Baltimore Gas & Electric (BGE) utility bills. City leaders are collecting signatures on a petition that calls for the Maryland Public Service Commission (PSC) to stop BGE's planned 2026 utility rate hikes .

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store