Friday, March 22, 2013 - 4:56pm
Delmarva Power wants $42M rate increase
Delmarva Power is asking Delaware regulators to approve a $42 million rate hike for electricity users.
The utility said Friday that the proposed base rate increase reflects rising costs for providing reliable electrical service.
If the rate increase is approved by the Public Service Commission, a Delmarva Power residential customer using 1,000 kilowatt hours per month would pay an additional $7.63 a month. That represents about a 5.4 percent increase.
Delmarva Power expects to invest approximately $397 million from 2013 to 2017 in new capital infrastructure, a large portion of which is for reliability upgrades servicing homes and businesses throughout Delaware.
Delmarva Power says it will implement an interim $2.5 million rate increase effective June 1 while regulators review the full revenue request.
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