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Exelon : Maryland Public Service Commission awards $7 million to Baltimore energy programs

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01/21/2017 | 02:04am CET

Jan. 21--The Maryland Public Service Commission awarded $7 million Friday to Baltimore City-run energy programs.

The awards come from the Customer Investment Fund created by the commission as part of Exelon Corp.'s 2012 acquisition of Constellation Energy Group Inc.

As a condition of the deal, Exelon was required to invest $113.5 million in an interest-bearing fund that would support energy programs in the service area of Baltimore Gas and Electric Co., which had been part of Constellation.

The $7 million disbursed Friday is the remainder of the fund.

The final awards went to five city-run energy programs, all which have previously received support from the fund:

--Retrofits and Upgrades, a loan and grant program to allow organizations and businesses that serve low-income residents to make energy efficiency upgrades, received $2.25 million.

--Energy Efficiency, which helps residents upgrade to energy efficient light bulbs and thermostats, received $1.9 million.

--Energy Efficiency Plus, which provides weatherization services, received $1.3 million.

--Energy Assistance, which helps residents at risk of having their power shut off pay overdue utility bills, received $1 million.

--Baltimore Energy Challenge, an energy savings education program, received $550,000.

sarah.gantz@baltsun.com

___

(c)2017 The Baltimore Sun

Visit The Baltimore Sun at www.baltimoresun.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2016 30 213 M
EBIT 2016 4 848 M
Net income 2016 2 297 M
Debt 2016 34 887 M
Yield 2016 3,53%
P/E ratio 2016 14,42
P/E ratio 2017 13,78
EV / Sales 2016 2,25x
EV / Sales 2017 2,15x
Capitalization 33 053 M
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Average target price 38,4 $
Spread / Average Target 7,3%
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Christopher M. Crane President, Chief Executive Officer & Director
Mayo A. Shattuck Independent Chairman
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Michael R. Koehler Chief Information & Digital Officer
John Washington Rogers Independent Director
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