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

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%