OPC Releases Report on Current and Historic Utility Rates and Charges
OPC’s summer 2024 report shows how utility rates have changed over time. Using a variety of figures and tables, the report reveals that most Maryland utility customers have seen their gas and electricity rates increase substantially over the last 10-15 years, with some rates increasing by multiples of two or three. The report focuses on the amounts that utilities charge their customers for delivering electricity and gas to customers’ homes and businesses, as distinct from the supply (or commodity) charges. While the rates of many of the largest utilities have escalated significantly in recent years, other utilities have only seen modest rate increases, tracking inflation rates. The utilities with rapidly increasing delivery rates have taken advantage of regulatory policies that encourage utility spending on capital infrastructure—such as the substations, poles, and wires of the electric utilities and the pipes of the gas utilities—by allowing utilities to recover such spending, along with a profit, on an accelerated basis.
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