Pepco is demanding a $51.7 million rate hike. It claims that one of the reasons the rate hike is necessary is due to the current economic crisis. But who is suffering more from today’s economy: D.C. residents or Pepco?

Thousands of D.C. families have lost their homes to foreclosure this year. The unemployment rate in the District has doubled since 2007. More and more D.C. residents are being forced to choose between putting food on the table and keeping the lights on at home.

Meanwhile, in 2008, Pepco Holdings Inc.—the parent company of PEPCO—made $334.2 million in profits. This is a nearly 35 percent increase since 2006. No wonder our bills are getting higher and higher!

When we pay our electricity bills, we assume we are paying for the electricity we use. But, far from it, we are also paying directly into the deep pockets of Pepco executives.

In 2008, former Chairman Dennis Wraase, who retired this past May, made $10,013,360. That’s more than $27,000 a day! Yet there are people whose electricity is being shut off because they owe $75 to Pepco.

Electricity is not a luxury; it is a basic necessity for a safe, livable home. During these hard economic times, D.C. residents should not have to choose between buying food and paying their electricity bill just so that Pepco executives can live in unimaginable luxury.

Sign up to join our campaign to oppose Pepco’s $51.7 million rate hike, demand an immediate moratorium on shutoffs, and a 50 percent rollback in rates.

Executive Compensation 2006-2008*

*Pepco Holdings, Inc., Proxy Statement and 2008 Annual Report to Shareholders, p. 28.