The Power Plug

The Maryland General Assembly has an opportunity to shave a possible $1.5 billion off the future bills of Baltimore Gas and Electric Co. customers. Lawmakers need to take it. Not only would that be a welcome reversal of recent trends, but it also might finally put to rest one of the most nagging concerns from the state's 1999 deregulation. At issue is how much BGE customers should be on the hook for the eventual decommissioning of reactors at the Calvert Cliffs nuclear power plant owned by Constellation Energy Group, the utility's parent. Under the negotiated agreement, ratepayers are responsible for as much as $5.2 billion in cleanup costs by 2034. That's a lot of money - and it's not entirely clear whether so much is really needed. Constellation officials have informed the federal Nuclear Regulatory Commission that the shutdown is likely to cost $3.7 billion. Legislation backed by the Maryland Public Service Commission would essentially cap ratepayers' liability to that new estimate. And if approved, BGE customers would see the savings as early as 2016, when some project a surcharge will have to be added to monthly bills to augment the amount already set aside for decommissioning.

The Baltimore Sun