Last day to defer BGE's rate rise

June 30, 2007|By Paul Adams

Today marks the last day that Baltimore Gas and Electric Co. customers can sign up for an optional plan to defer part of a 50 percent electric rate increase that took effect June 1.

Customers who choose the deferral will pay about 18 percent less than full market rates from June until September and about 8 percent below market rates from September to December.

Beginning in January, customers who chose the deferral start paying full rates. Those customers must start paying back the deferred amount starting April 1 and ending Dec. 31, 2009. No interest will be charged on the deferred amount.

BGE said that slightly fewer than 43,000 - or about 4 percent - of its approximately 1.1 million residential customers had signed up for the deferral plan by Thursday. Those results are unofficial and could change, the Constellation Energy subsidiary said.

Customers can sign up online all day today at www.BGE.com, or by calling 888-234-0505.

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