Report Says Deregulation Cost Utility Customers $1B

Law360, New York (January 18, 2008, 12:00 AM EST) -- As a result of an allegedly flawed settlement aimed at securing energy deregulation for Maryland, consumers ended up handing over nearly $1 billion to Baltimore Gas & Electric Co. in exchange for electricity rate cuts worth only a fraction of that amount, according to a report issued Thursday by Maryland regulators.

In a report based on analysis done by Kaye Scholer LLP, the Maryland Public Service Commission says that the 1999 settlement turned out to be a very good deal for Baltimore Gas & Electric's corporate...
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