Delmarva Files New POR Discount Rates

Delmarva Power & Light has filed with the Maryland PSC proposed new purchase of receivables (POR) discount rates, to take effect June 1, 2012

The proposed discount rates are:

Residential, Schedules R & R-TOU-ND: 2.3384%

Type I, Schedule SGS-S, GS-SH, GS-WH, TN, ORL & OR: 0.0000%

Type II, Schedules SGS-S, LGS-S, & GS-P: 0.8183%

Hourly Priced, Schedules LGS-S, GS-P, & GS-T: 0.0000%

For comparison, the currently effective POR discount rates are:

Residential: 2.1879%

Type I: 0.6295%

Type II: 0.0366%

Hourly Priced: 0.0048%

Delmarva said that, for Type I customers, total Late Payment Revenues exceeded total write-offs for the period July 2010 through June 2011. Additionally, hourly priced customers did have late payment revenues during this period but did not have any write-offs. As indicated, Delmarva proposes to set the discount rate to zero for Type I and hourly priced customers.