BGE (Baltimore Gas and Electric Company) is increasing their prices for gas and electricity again, and Baltimore area residents will be paying through the nose. BGE is owned by Exelon, a national corporation that rakes in profits from its energy sales. According to Exelon’s 2024 financial report, BGE made $423 million in profits for Exelon in the first six months of the year. Prices ought to be more affordable with such surplus income, but BGE is not concerned about energy affordability for residents.
Starting June 2025, Baltimore City residents can expect an average increase in their electric bills of $21 per month, or $250 per year! The rise in prices is greater than the expected increase according to BGE’s original three-year rate contract with Baltimore City, thanks to the latest evaluation of the market for energy by PJM Interconnection. PJM’s calculation for the cost and demand for energy does not account for the needs of ordinary people, but instead for technology companies that need more energy infrastructure and more energy to make their own profits.
In 2023, BGE cut electricity to 80,000 households. The number of shut-offs is certain to rise as the company raises prices again this year and people can’t pay. BGE’s appalling price increases are business as usual in the capitalist economy, which is organized to maximize the profits of companies regardless of the costs to everyday people. Energy for our needs should be accessible. Heating and lighting our homes and cooking our meals is not a luxury!
