Delmarva Power admits less growth driving rate hikes
The president of Delmarva Power talks about another proposed rate hike in-studio on WDEL's Rick Jensen Show.
WDEL's Amy Cherry reports.
Delmarva Power customers just saw their bills go up about $5 bucks a month in December, now the company is coming back again for more, an extra $7 dollars per month on average.
Gary Stockbridge, President of Delmarva Power, tells WDEL the money is needed for reliability upgrades to infrastructure.
"New lines, new poles, new transformers, new hardware on the system, some of that drive by growth," says Stockbridge.
Then WDEL's Rick Jensen calls him out on it.
"Gary, something I got out of the report says you guys have not had growth in the customer base," says Jensen.
And Stockbridge admits...
"There is not much growth, and so not much of what's in here is related to growth, and you're right then when you don't have growth it ends to lead to, more often, rate increases," says Stockbridge.
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