Maryland OKs Pepco rate hike; gives less than utility sought

WASHINGTON (AP) -- The Maryland Public Service Commission has approved a rate hike for Pepco, which provides electricity to two suburban D.C. counties.

The commission issued an order Tuesday granting a revenue increase of $52.5 million to Pepco. The increase, which will add about $6.96, or 4.76 percent, to the average residential monthly bill, took effect on Tuesday.

Pepco had sought an increase of $126.8 million.

Pepco provides electricity to the District, and Prince George's and Montgomery counties in Maryland.