Maryland approves smaller electricity rate increase than Pepco sought

Pepco Holdings PEPWR

WASHINGTON (AP) — The Maryland Public Service Commission has approved a rate hike for Pepco, which provides electricity to two suburban D.C. counties.

The commission issued an order Tuesday granting a revenue increase of $52.5 million to Pepco. The increase, which will add about $6.96, or 4.76 percent, to the average residential monthly bill, took effect on Tuesday.

Pepco had sought an increase of $126.8 million.

Pepco provides electricity to the District, and Prince George's and Montgomery counties in Maryland.

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