WASHINGTON — If you’ve felt like your electric bill keeps climbing , you’re not alone. But Pepco is offering customers in the District and Maryland some relief after creating a customer relief fund. This relief will provide up to $300 for limited and moderate-income customers.
The increase in energy cost is not a coincidence. Every year, PJM holds what’s known as a capacity auction , where power generators are paid in advance to guarantee they’ll have electricity ready when demand spikes, like during a heatwave. Utilities like Pepco and BG&E use the results of these auctions to help set future electric rates.
This summer's auction set the capacity price for the region at $329.17 per megawatt-day, the maximum allowed under a new regulatory cap. That’s a 22% increase over last yea