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Md. PSC approves Baltimore Gas and Electric tax-related rate cut

The Maryland Public Service Commission on Jan. 31 approved Baltimore Gas and Electric Co.'s request to reduce its rates to reflect lowered corporate tax rates in legislation enacted by December 2017 by President Donald Trump.

The Exelon Corp. utility filed asked regulators on Jan. 11 to increase the rate cut to $103 million from a previously filed rate reduction request of $81.7 million as a result of the federal Tax Cuts and Jobs Act.

An average residential electric customer will save roughly $2.91 per month, while the average residential combined gas and electric customer will save up to $5.41 on a monthly basis. The reductions take effect Feb. 1 and will show up on customers' February bills, BGE said.