The settlement resolves a pending rate increase request from Delmarva to meet $31 million in distribution costs. Following the Tax Cuts and Jobs Act, which resulted in savings for the company, the Public Service Commission approved a petition from the Public Advocate to reduce the rates.
“This is a big deal for our ratepayers. Simply put, this case went from an increase in rates to a decrease in rates thanks to the parties involved in these negotiations and the Commission’s support of our petition to ensure money from tax breaks flowed back to customers in the form of reduced rates,” said Public Advocate Drew Slater.
The proposed settlement replaces the requested $65 per year increase for customers with a $15 decrease.
“Delmarva’s customers win big in this case and the settlement reflects an agreement among the parties that the reduction in federal tax rates are reflected in customers’ bills,” said Raj Barua, executive director of the Public Service Commission.