Pepco to File for Another Rate Increase

Wednesday, Aug 8, 2012  |  Updated 9:19 PM EDT
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Pepco to File for Another Rate Increase

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Pepco said it plans to file for another rate increase this fall.

The CEO of the Washington-area utility made that announcement to investors Tuesday, just hours before customers lined up to criticize Pepco's performance after severe storms earlier this summer. Some customers were without power for as long as a week.

A previous request for a rate increase was mostly denied by Maryland regulators. Pepco Holdings chief executive Joseph Rigby decried that decision during a conference call with investors, saying higher rates “will be crucial to continue the pace of investment in Maryland.”

Petro also requested a rate increase for its customers in the District of Columbia. Regulators are expected to rule on that request by next month.

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