Maryland utility regulators approved less than half of Baltimore Gas and Electric Company’s (BGE) request to recover costs from the final year of its pilot three-year rate plan, citing concerns over customer affordability.

The Maryland Public Service Commission on Monday granted BGE $77.2 million of the $152.3 million the utility sought in a so-called “true-up” for 2023 spending it says was not fully recovered through rates.

“The actions of the elected leaders of the State in reaction to the widespread concerns regarding affordability of critical utility services demonstrate that granting a reconciliation of the magnitude BGE requested would risk increased utility unaffordability by many customers,” said Frederick H. Hoover, Chair of the Public Service Commission, via press release. “While the estimated monthly bill impact resulting from this decision does not fully mitigate the utility affordability risks faced by residential customers, it does at least – to some degree – buffer the impact.”

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