BGE's Customers to get $170 rebate!

[madinmaryland]

http://www.baltimoresun.com/news/local/politics/bal-te.md.rates08apr08,0,5744497.story

BGE customers will get one-time rebates of $170 and other benefits totaling $2 billion in the coming years under a settlement agreement with the utility's parent company approved by the General Assembly last night.

The deal passed in the final hours of the General Assembly session after the Senate reversed course on an amendment seeking to partially reregulate Maryland's electric utilities. Gov. Martin O'Malley, who announced the deal with Constellation Energy Group last week, had said the amendment would have killed the deal.

"I'm very, very glad the Constellation settlement passed," O'Malley said. "It's a $2 billion win for consumers, and it's the first good news consumers have had on this front for quite a few years. So we still have big challenges ahead of us, but at least we've resolved this."

O'Malley and legislative leaders secured the deal by persuading one of the amendment's sponsors, Sen. Jim Rosapepe, a Democrat from Prince George's County, to support the original version of the legislation authorizing the settlement.

..snip

[shireen]

1. rebates: the latest gimmick to cover-up financial messes

That $170 rebate is chump change. We've seen our rates almost triple in the past 2 years. I live in an apartment, and run fluorescent lights for plants; during the summer, when I also have the AC running all day to keep my fish and plants cool, my bill is well over $170/month. Regular households without crazy hobby projects like mine will probably pay even more each month. This rebate is a smoke-screen to hide the real problem: a greedy power company that's over-charging its customers.