May 27, 2016 8:59 AM ET

Electric Utilities

Company Overview of Baltimore Gas and Electric Company

Company Overview

Baltimore Gas and Electric Company engages in the purchase and regulated retail sale of electricity and natural gas for residential, commercial, and industrial customers in central Maryland, including the City of Baltimore. The company is also involved in the provision of electricity transmission and distribution services, as well as natural gas distribution services for retail customers. Its electric distribution system comprises 9,190 circuit miles of overhead lines and 16,841 circuit miles of underground lines. The company also operates liquefied natural gas facility for the storage of natural gas with a storage capacity of 1,055 million cubic feet (mmcf); a liquefied natural gas facility...

2 Center Plaza

110 West Fayette Street

Baltimore, MD 21202

United States

Founded in 1816

3,293 Employees

Phone:

410-234-5000

Key Executives for Baltimore Gas and Electric Company

Chief Executive Officer
Age: 45
President and Chief Operating Officer
Age: 47
Chief Financial Officer, Senior Vice President and Treasurer
Age: 43
Vice President, General Counsel and Member of Risk Management Committee
Age: 61
Senior Vice President of Regulatory & External Affairs
Age: 43
Compensation as of Fiscal Year 2015.

Baltimore Gas and Electric Company Key Developments

Baltimore Gas and Electric Company Reports Earnings Results for the First Quarter Ended March 31, 2016

Baltimore Gas and Electric Company reported earnings results for the first quarter ended March 31, 2016. For the quarter, adjusted operating earnings were $100 million against $107 million a year ago. Net income was $98 million against $106 million a year ago. Adjusted (non-GAAP) operating earnings in the first quarter of 2016 decreased $7 million from the same quarter in 2015, primarily due to increased storm costs in BGE's service territory. Due to revenue decoupling, BGE is not affected by actual weather with the exception of major storms.

Baltimore Gas and Electric Co. Announces Executive Appointments

Baltimore Gas and Electric Co. promoted David Vahos to take on additional responsibility as senior vice president while maintaining his position as CFO and treasurer of the company. The company also appointed Derrick Dickens as its vice president of technical services; Andrew Holmes as vice president and controller; and Michael Menendez as vice president of information technology.

BGE Announces Unaudited Earnings Results for the Fourth Quarter Ended December 31, 2015

BGE announced unaudited earnings results for the fourth quarter ended December 31, 2015. For the quarter, the company’s fourth quarter 2015 GAAP net income was $74 million, compared with $52 million in the fourth quarter of 2014. Adjusted (non-GAAP) operating earnings were $74 million against $53 million a year ago. The company’s adjusted (non-GAAP) operating earnings in the fourth quarter of 2015 increased $21 million from the same quarter in 2014, primarily due to increased distribution revenue pursuant to increased rates effective in December 2014 and increased transmission revenue. Due to revenue decoupling, BGE is not affected by actual weather with the exception of major storms.

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