BGE Plan to Pass Federal Tax Reduction Savings to Customers Accepted by Maryland Public Service Commission

January 31, 2018

BALTIMORE–(BUSINESS WIRE)–The Maryland Public Service Commission today accepted BGE’s proposal to
provide approximately $103 million in annual tax savings to customers
beginning Feb. 1, 2018.

"This is a positive outcome for BGE customers, and we are appreciative
of the Public Service Commission’s decision to accept our proposal to
convert tax savings to reduced rates," said Calvin G. Butler Jr, chief
executive officer of BGE. "We are pleased to have another opportunity to
further reduce the average BGE residential customers’ total bills, which
remain below levels from a decade ago.”

The average BGE residential electric customer will receive an estimated
$2.91 decrease on their monthly bill, and the average residential
combined natural gas and electric customer will receive an estimated
$5.41 monthly reduction. Commercial customers will also receive monthly
bill reductions. Reduced rates for all BGE customers will be reflected
beginning in customers’ February 2018 bills.

While customer bills have decreased, BGE has continued to invest in
energy infrastructure. The investments have resulted in record system
reliability, accelerated modernization of the natural gas system through
the STRIDE program, increased security and significant customer
satisfaction improvements.

BGE voluntarily filed the proposal to reduce rates as a result of the
federal Tax Cuts and Jobs Act.

BGE,
founded in 1816 as the nation's first gas utility and headquartered in
Baltimore, is Maryland's largest natural gas and electric utility. The
company's approximately 3,200 employees are committed to safe and
reliable power delivery to more than 1.25 million electric customers and
more than 650,000 natural gas customers in central Maryland, as well as
enhanced energy management, conservation, environmental stewardship and
community assistance. J.D. Power's 2017 Electric Utility Business
Customer Satisfaction Study SM ranked BGE
highest in customer satisfaction with business electric service in the
east among large utilities. The company also has an estimated annual
economic impact of $5 billion of output in its service area, supporting
more than 9,500 local jobs and producing $923 million in labor income.
BGE is a subsidiary of Exelon Corporation (NYSE: EXC), the nation's
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