PSC Approves New POR Discount Rates At Several Utilities, Some Discount Rates Spike

The Maryland PSC approved, as-filed, new purchase of receivables (POR) discount rates at Baltimore Gas & Electric (both electric and gas), Potomac Edison, and Washington Gas Light

Baltimore Gas & Electric's new electric POR discount rates, effective June 1, 2023, are as follows:

        Current Discount      6/1/23 Discount
Residential      0.7129%      0.6591%
Type I           0.0000%      0.0000%
Type II          0.0000%      0.0000%
Hourly           0.0000%      0.0000%

BGE's new natural gas POR discount rates are as follows, effective June 1, 2023:

                  Current Discount   6/1/23 Discount
Residential (Sch. D)       0.2238%    0.8225%
General Service (Sch. C)   0.0000%    0.0000%

The new Potomac Edison purchase of receivables (POR) discount rates, effective June 1, 2023, are as follows:

Potomac Edison-Maryland
           Current Discount    6/1/23 Discount
Residential    0.8645%           0.9328%
Type I         0.0000%           0.0000%
Type II        0.0000%           0.0000%
Hourly         0.0000%           0.0000%

At WGL, for residential accounts, the new POR discount will be 1.9297%, effective with the June 2023 billing cycle, versus the current 1.0511%

The largest driver for the WGL change in the residential discount is the reconciliation factor, which will be set at 1.2423%

For non-residential accounts, WGL will to continue the current 0% discount rate