Baltimore Gas & Electric, one of MACo’s Corporate Partners, recently participated in a study on the economic effects of its activities across their Maryland service areas. The released study from the Economic Alliance of Greater Baltimore (EAGB) indicates a massive $3.8 billion effect on the local economy.
From the press release:
In addition to direct economic activities such as BGE’s more than $1 billion in procurement, the study also accounted for indirect and induced economic activities and benefits such as income received and the spending of BGE employees, and employees and vendors from other companies, who receive wages as a result of BGE’s spending on goods and services.
BGE also acts as a broker of energy management programs through a partnership between the company, its customers, and EmPOWER Maryland, in addition to its operations. The energy management programs administered by BGE, such as the voluntary PeakRewardsSM program, in which customers whom opt into the program have their air conditioning cycled on peak usage days, saved customers $79 million in 2013 and supported $209.11 million in output. Ninety cents of output were generated for every dollar of direct BGE output as a result of BGE’s energy management activities. The administration of energy efficiency and demand side management programs also supported 764 Maryland jobs.
For more information on the study and the BGE economic effects: