BGE is seeking higher electric rates and a bigger return for shareholders even after reporting its most profitable year on record, and thousands of Marylanders fall behind on their bills.
CR released a fact sheet, launched a petition, and invites BGE customers to share their stories
Baltimore, MD — Consumer Reports (CR) launched a campaign today urging the Maryland Public Service Commission (MPSC) to reject Baltimore Gas and Electric’s (BGE) proposed $156 million rate hike and its request to boost the return it earns for shareholders. If approved, BGE’s proposal would raise the average residential customer’s bill by nearly $100 a year. The request comes as over 290,000 BGE customers are already behind on their bills and at risk of having their service shut off.
“Maryland families are already paying more to keep the lights on, and BGE is asking them to pay even more—including to provide a bigger return to shareholders,” says Sara Enright, senior director for safety and sustainability at Consumer Reports. “BGE is a regulated monopoly. Its customers can’t simply switch to another company if the price gets too high. That makes strong oversight by the Public Service Commission essential. BGE should have to demonstrate that every dollar it wants customers to pay is necessary, prudent, and in the public interest.”
A CR fact sheet released alongside the campaign found that Maryland electric bills, including BGE customers’, have risen over 30% over the past three years, even as BGE’s profits have grown. The company reported $578 million in net income last year—up from $527 million in 2024 and $485 million in 2023, an increase of about 19%. Its parent company, Exelon, took in $2.7 billion in profit, and its CEO took home $15.6 million in 2025.
“We aren’t opposed to utilities earning a fair return for providing safe and reliable service,” says Enright. “But customers should not be required to support excessive profits, particularly when households are already struggling with rapidly rising energy costs. Regulators should put affordability and reliable service ahead of unnecessarily high shareholder returns.”
To highlight the consumer voice in this proposal, CR is directing BGE customers to a petition urging the MPSC to reject this excessive rate increase, not allow rates to rise faster than inflation, make big new energy users—like data centers—pay their fair share, and prioritize energy efficiency and other low-cost solutions that cut waste and reduce bills. BGE customers can go to share their stories of hardship affording their electric bills with CR, or submit comments directly to the MPSC docket (case #9888).
A central concern in this rate case is the high return on equity BGE is requesting. Return on equity is the profit rate a utility is allowed to charge ratepayers for its infrastructure investments — and BGE is asking the MPSC to raise its rate from 9.5% to 10.4%. Maryland’s own ratepayer advocate, David Lapp of the Office of People’s Counsel, has called the request too high, saying it ‘represents a level of profits that competitive companies don’t seek or don’t obtain.’ Of a typical $150 monthly bill, $16—or 11%—is already pure profit for BGE under the current rate.
CR contends that approving this increase risks incentivizing BGE to pursue large capital projects, which would grow profits, rather than lower-cost, reliable solutions that make service better for consumers and keep bills down.
CR’s work in Maryland is part of a broader energy affordability initiative, which is mobilizing consumers nationwide to advocate for fair utility policies as electricity costs continue to rise. Through petitions, consumer storytelling, research, and policy advocacy, CR is working to ensure that households—not just utilities and the technology industry—have a meaningful voice in decisions that determine who pays for America’s rapidly expanding electric grid.
As utilities across the country seek approval for billions of dollars in new infrastructure investments, CR is expanding its work with consumers, policymakers, and advocates in multiple states to promote affordable electricity, fair cost allocation, and greater accountability in utility and data center regulation.
Contact: cyrus.rassool@consumer.org