Three Utilities File New Purchase Of Receivables (POR) Discount Rates; Includes Higher Discounts For Some Residential, Small C&I Classes

April 30, 2021

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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In Maryland, Pepco, Delmarva, and Potomac Edison have filed new purchase of receivables (POR) discount rates, to be effective June 1, 2021.

At Pepco, the newly proposed POR discount rates are as follows:

Pepco (Md.) POR Discounts
             Current       6/1/21
             Discount     Discount
Residential  0.1407%      0.3531%
Type I       0.0101%      0.3241%
Type II      0.0000%      0.0000%
Hourly       0.0000%      0.0000%

At Delmarva, the newly proposed POR discount rates are as follows:

Delmarva (Md.) POR Discounts
             Current       6/1/21
             Discount     Discount
Residential  2.1428%      3.8009%
Type I       0.0000%      0.0000%
Type II      0.0000%      0.0000%
Hourly       0.0000%      0.0000%

Delmarva noted that, "Due to the higher than average write-offs in 2017 (7th POR filing), the Commission directed the Company on November 20, 2018 ... to amortize the Residential write-offs over a four-year period. The write-offs declined during 2018/2019 period by more than 50% from those in 2017 ($1.33M in 2017, $0.79M in 2018, $0.52M in 2019, and $0.11M in 2020). During last year’s filing the Commission approved to amortize Residential 2018 and 2019 write-offs over a two-year period. The Company proposes in the current filing to continue to amortize one year of the 2017 write-offs, and half of the 2018 and 2019 write-offs. If all remaining 2018 and 2019 Residential uncollected costs were included in the instant filing, the Residential POR rate would be 5.1416%."

At Potomac Edison, the current and newly approved POR discounts, effective June 1, are as follows:

Potomac Edison-Maryland POR Discount
           Current Discount    6/1/21 Discount
Residential    0.3435%           0.1560%
Type I         0.0000%           0.0000%
Type II        0.0000%           0.0000%
Hourly         0.0000%           0.0000%

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