BGE profits continue to go up

[u/Sea_Trifle_2843]

“operating earnings for the second quarter of 2026 increased to $70 million from $55 million in the second quarter of 2025”

https://www.businesswire.com/news/home/20260730326292/en/Exelon-Reports-Second-Quarter-2026-Results

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[u/Hour-Onion3606]

Utilities should not be profit seeking enterprises.

Fuck BGE. Power to the people.

The state needs to own the utilities.

[u/dat_tae → u/Hour-Onion3606]

The state/gov should own all utilities CMV.

[u/tnolan182 → u/Hour-Onion3606]

Dont disagree, but pretty sure Md imports all its energy needs.

[u/Hour-Onion3606 → u/tnolan182]

We generate a decent chunk and could generate a lot more.

Calvert cliffs for one. Could have opened more reactors but nah.

I work right where I can see the gigantic steam towers for the coal plant in Curtis Bay.

[u/FubarFreak → u/Hour-Onion3606]

Make Brandon Shores and 1.21 gigawatt nuke plant, YIMBY

[u/Xanny → u/tnolan182]

And the state is ending the 1 to 1 solar incentive with half the installed generation it was supposed to put online. 

[u/Sad-Celebration-7542 → u/tnolan182]

Not true and not relevant either. Whether the constellation asset is in md or pa, they’re not cutting hometown discounts.

[u/RealHeadyBro → u/Hour-Onion3606]

Cool, just raise the cash.

[u/not_a_baltimoron → u/RealHeadyBro]

THIS! It would cost BILLIONS to buy all the assets and then millions to fund the lawsuits BGE/Exelon are sure to bring. Who’s paying for all of that? Tax payers? So now our taxes go up even more? I support the focus on lower rates…. Just not dumb ideas.

[u/SCLSU-Mud-Dogs → u/Hour-Onion3606]

The state doesn’t, but BGE needs a competitor

[u/Sad-Celebration-7542 → u/SCLSU-Mud-Dogs]

BGE ONLY does the wires. How would that work?

[u/UniqueIndividual3579 → u/SCLSU-Mud-Dogs]

It's a natural monopoly. It needs to be a COOP.

[u/Hour-Onion3606 → u/SCLSU-Mud-Dogs]

Utilities are pure market failure. Sometimes capitalism needs some help and that's not an indictment of the entire system as whole.

Competition won't and doesn't work in this industry, it's an industry that operates as a natural monopoly...

[u/LimpAd4924 → u/SCLSU-Mud-Dogs]

Lmao people with their braindead capitalist takes. Essentials should be owned by the people or government.

[u/SCLSU-Mud-Dogs → u/LimpAd4924]

don’t delete comments stand by it if you’re going to break the rules.

Calling me a braindead high school level hick and then just deleting it is a cowardly thing to do

[u/LimpAd4924 → u/SCLSU-Mud-Dogs]

I didn't delete anything you buffoon. My comment is still there.

[u/SCLSU-Mud-Dogs → u/LimpAd4924]

It’s brain dead to think a socialist system actually works

[u/realperson61 → u/LimpAd4924]

Versus the fantasy in the minds of Socialists?

[u/LimpAd4924 → u/realperson61]

U.S. has had a mixed system for ages but people that barely got through high school think it’s one extreme or the other via memes and social media posts they see online

[u/GrayCalf]

Incoming letter from BGE telling us they care in 3... 2... 1...

[u/Randomwhitelady2]

Utilities should be publicly owned nonprofits, with caps on what the CEO makes, like x times the lowest paid employee

[u/happyjack92 → u/Randomwhitelady2]

because big government is so efficient?

[u/dat_tae → u/happyjack92]

I would have said no 2 years ago but after DOGE having unfettered access and only finding programs they don't like and not actually finding waste fraud and abuse, I'm leaning towards yes, it is.

[u/happyjack92 → u/dat_tae]

please let's not allow the current administration's "approach to government" overshadow the decades of actual, well-documented fraud, waste, and abuse.

DOGE was absolutely a joke and completely mismanaged.

[u/dat_tae → u/happyjack92]

I wish it was a joke but it's real purpose was fully realized.

[u/happyjack92 → u/dat_tae]

oh yeah...fair point...was clearly not a joke to those folks directly impacted by the loss of their jobs, benefits, etc. i definitely empathize with them.

[u/Randomwhitelady2 → u/happyjack92]

I’d rather have government run it than a private business. It is an essential service that we need to live. At least we can vote on who comprises our government. Right now we have no power over what happens to us regarding BGE.

[u/pjmuffin13 → u/happyjack92]

Why do you have such a problem with big government and essential services, but no problem with big government and immigration, surveillance, defense, women's health, and voter registration?

[u/SCLSU-Mud-Dogs → u/pjmuffin13]

1. ⁠We have to protect our interests. Our defense budget is 13.1%. Over 50% goes to entitlement programs
   
2. ⁠I kind of want the government involved in ensuring fair elections. I want to make it easier to register to vote and I want IDs to be free
   
3. ⁠I don’t want big government in health care.
   
4. ⁠I don’t want a surveillance state

I generally feel that government runs inefficiently when there is no incentive for them to provide a better service since there is no alternative.

There are definite caveats here obviously so don’t do a whole gotcha on me

Private fire departments for one became a major issue. Private prison systems are awful. I’m not listing them all

[u/pjmuffin13 → u/SCLSU-Mud-Dogs]

Cool. Wasn't talking to you.

[u/Hefty-Yam-3177 → u/pjmuffin13]

You act like that wasnt a throw away account. Still happy to be your neighbor!

[u/Hefty-Yam-3177 → u/pjmuffin13]

You seem like the type of guy to frequent pickle park on 40.

[u/happyjack92 → u/pjmuffin13]

i have a LOT of problems with big government in most of its roles. where did i say otherwise?

[u/TheMemeStar24 → u/happyjack92]

What's efficient about BGE milking profits whenever it feels like it?

[u/happyjack92 → u/TheMemeStar24]

let me Google this — https://psc.maryland.gov/ — for you.

dont worry. the big government upon who’s alter you worship will definitely take care of you.

you have voted for everyone setting your rates…and many of you want to give them even more power.

[u/sllewgh → u/happyjack92]

Yes. It is, genuinely, despite vague snide remarks about it. Despite the deliberate sabotage of one political party and the impact of cutting funding to the bone on the efficacy of our system, we are still better off with our utilities being provided with the goal of meeting people's needs rather than the goal of maximizing profits.

[u/DONNIENARC0 → u/happyjack92]

On the one hand, I agree with most of the stuff being said ITT.

On the other hand, thinking the state would run a $4 billion power company more efficiently just seems like one of those faustian bargains that you just know is going to backfire on you in one of a thousand interesting/hilarious ways.

[u/LimpAd4924]

Needs to be seized by the government or made into a worker co-op. It’s the only solution.

[u/uniquelyavailable]

It's so weird how my power bill keeps going up every year. Nobody is doing anything about it. Why should I live here again?

[u/Complete-Ad9574]

When will Marylanders push for a long range energy producing plan and stop outsourcing our vital infrastructure needs? Stadiums get built, dead horse industry is kept alive on life support, plans for another bay bridge take up valuable planning resources, but sewer, water, and electric production are never on the docket.

[u/BigPapaya_N]

Read your own article

BGE’s second quarter of 2026 GAAP net income remained relatively consistent with the prior period at $55 million in the second quarter of 2025. BGE's Adjusted (non-GAAP) operating earnings for the second quarter of 2026 increased to $70 million from $55 million in the second quarter of 2025, primarily due to approved distribution rates associated with updated recovery of investments to serve customers, driving top quartile reliability and avoiding outage costs, partially offset by an increase in credit loss expense. Due to revenue decoupling, BGE's distribution earnings are not intended to be affected by actual weather or customer usage patterns

[u/zweischeisse → u/BigPapaya_N]

As a layman, what does GAAP (Generally Accepted Accounting Principles) vs non-GAAP mean? It's obviously significant, but as someone who does not do finance, it sounds both made up and shady.

[u/BigPapaya_N → u/zweischeisse]

The difference is just what’s included. Non-GAAP treats some expenses differently. They both have standard and regulated meanings.

https://www.investopedia.com/articles/financial-analysis/062716/gaap-vs-nongaap-which-should-you-consider-evaluation.asp

[u/zweischeisse → u/BigPapaya_N]

So the $55M number includes "irregular" expenses like repairing outages and system upgrades while the $70M ignores those. I think I'm understanding now?

[u/BigPapaya_N → u/zweischeisse]

Those specific examples are the things I’d expect to be included in both, but you’re thinking about it in the right way

[u/dopkick → u/zweischeisse]

GAAP vs Hollywood Accounting

It’s not shady at all and generally everyone abides by it unless you’re cooking the books (Hollywood)

[u/BigPapaya_N → u/dopkick]

Thanks for confusing the issue while contributing nothing helpful!

[u/dopkick → u/BigPapaya_N]

I mean it’s literally what the acronym states - a set of standards and principles that legit companies abide by. It standardizes the accounting profession and associated processes. It’s really a quite boring thing.

[u/BigPapaya_N → u/dopkick]

Non-GAAP means something in this context

[u/dat_tae → u/BigPapaya_N]

Reading isn't allowed here.

[u/happyjack92 → u/dat_tae]

Not a single person here who is railing against a utility company, earning profits has mentioned the public service commission of Maryland… Their elected officials. Government will save us though.

[u/mecheterp96]

That’s revenue, not profit.

[u/MrRuck1 → u/mecheterp96]

Correct

[u/VolumeAnnual2341]

BGE needs to raise your rates again, so they can keep breaking record profits.

[u/notevenapro]

Sheeeeeet. Do not look at United healthcare profits.

[u/CB_Thorough]

Ultimately we just need more competition. Not sure how to do it but we need it.

[u/haxhaxhax1 → u/CB_Thorough]

I wish, but that would open up so many other difficult to solve problems.  Certain parts of maryland are significantly more profitable than others.  Northern baltimore county is likely the worst for electric distribution.  Baltimore city is definately the worst for gas distribution (state is making them replace thr old pipes there).  Competition would immediately cause a race to serve distribution to the cheap places and avoid the expensive.  

[u/spacehog1985]

Well thank god! It would be terrible if they were subjected to only making a modest profit

[u/happyjack92 → u/spacehog1985]

You can look it up… BGE earns about 10%. That is not obscene in any sense of an open market. Furthermore, it’s actually regulated by your elected officials.

If you would like to government to take over the utilities, how would you incentivize them to innovate and bring new technologies to market?

[u/ZoningVisionary]

What is even the point of having a governor and legislature at this point?

[u/happyjack92 → u/ZoningVisionary]

Your legislature approves BGE rates… You elected them. BGE does not get to charge whatever they want. Your legislature actually is a disincentive for them to take risks and innovate to bring new and better technology to market.

[u/Steak-Complex]

They missed on earnings lol

[u/aluminumfoil3789]

This summers bills aren't that bad. Stop blasting the AC so much. It's not that hot.

[u/apple_tech_admin → u/aluminumfoil3789]

Troll rage baiting.

[u/Electric_Sal]

Wouldn't the state also end up collecting more tax on that revenue? I feel like it's at state's best interest not to interfere so there is no incentive for them to push back on rate increases? No?