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State of Maryland Submits Customer Investment Fund Proposal

Press Release

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Date:
Location: Annapolis, MD

The State of Maryland today filed its proposal with the Public Service Commission for utilizing the $113.5 million Customer Investment Fund provided by Exelon as a condition of the Commission's approval of its merger with Constellation, endorsing nine proposals that reach a broad array of customers within Baltimore Gas & Electric Company's service territory. Over a 10 year period, the State's proposal is projected to save over 2.2 million MWh of energy while creating or retaining over 1,550 jobs, avoiding the emission of 1.4 million metric tons of CO2 and saving BGE customers over $278 million dollars. The proposed programs will also affect almost 27,000 families, over 12,000 small business and non-profit organizations, tens of thousands of teachers, students and parents, and over 200 Maryland manufacturers.

"The State's submission represents yet another example of how energy efficiency and conservation can create jobs while simultaneously saving Maryland families and businesses millions of dollars," said Governor Martin O'Malley. "These proposals, including the net zero schools, represent the future of our State and envision a time when all citizens will reside in safe, efficient homes, when our children are educated in buildings that are independent of the electrical grid, and when our businesses, non-profits and manufacturers routinely incorporate energy efficiency practices in their normal course of operations."

In crafting the proposals, the State focused on developing sustainable programs that leverage the Customer Investment Fund proceeds and ensure energy benefits for BGE customers for years to come. Sustainability efforts range from creating revolving loan accounts (approximately one-third of the proposals) to incentivizing energy conscious behavior. The State's proposal is also transformative; it seeks to address problems of high energy use and unhealthy homes among low-income families by providing enhanced weatherization services, as well as lead paint and mold abatement, along with education about energy efficiency to help create a healthier home environment and lower energy bills.

Click here for the State's nine proposals.

Each of the State's proposed programs would serve a multitude of BGE customers and offer significant incremental benefits in MWh saved, CO2 emissions avoided, the creation or retention of both direct and indirect jobs, and costs savings. This table illustrates the key metrics associated with each of the proposed programs.

The Commission will hold a hearing on the various parties' Customer Investment Fund proposals on August 7, 2012, and will ultimately decide how the $113.5 million will be allocated.

This Commission's creation of the Customer investment Fund follows the State and the City of Baltimore's settlement with Exelon, which resulted in a one billion investment in the State over the next decade, 285-300 MW of new energy generation, and more than 6,000 jobs.


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