BGE Requests Short Deferral in Effective Date of New POR Discount Rates

Baltimore Gas and Electric has requested that the Maryland PSC defer the effective date of its new Purchase of Receivables discount rates for both electric and gas service.

BGE is seeking to delay the effective date of the new discount rates from July 1, 2011 to July 13, 2011.

This delay would allow the Commission to consider the discount rates at the July 6 PSC administrative meeting, rather than the June 29 administrative meeting as originally scheduled.

The discount rates, filed April 29, were first reported in Matters, and can be found in our 5/2 story.

As originally filed, the proposed new discount rate for residential electric service was 0.8154%, marginally higher than the current rate. The proposed new discount rate for residential gas service was 2.3942%, essentially equal to the current discount rate.

Under the proposed rates, the Type I electric discount rate would spike from 0.3674% to 1.4331%.

BGE said that Staff concurs with its request for a deferral. The draft agendas for the June 29 and July 6 administrative meetings reflect the requested deferral.