Now, You Can Apply for a Balloon Loan for Your Electric Bill

4 de junio de 2007

<body><div id="article"><tr><td height="23" valign="middle" width="184"></td><td valign="middle" width="185"></td></tr><h1>Now, You Can Apply for a Balloon Loan for Your Electric Bill</h1><p>June 4, 2007 (LPAC)--Baltimore Gas and Electric (BGE), which has won a long battle to be able to bilk Baltimore-area consumers of electricity with a 50 percent rate increase, has taken out full page ads in the Washington Post, offering consumers two options on how to pay. With Option 1, customers start paying the 50 percent increase this month. With Option 2, they can pay a 32 percent increase for June through September, then a 42 percent increase from October to December. Then, they start paying the 50 percent increase, PLUS over the following 21 months they have to pay the deferred difference between what they didn't pay and the 50 percent increase.</p><p>The great news is that the repayment charge "will not include interest, which is a difference from the proposed plan previously communicated to you." The division of Constellation Energy Company, formerly Baltimore Gas and Electric, also communicated that, "if service is terminated before 12/31/09," the former customers will be obligated to pay an "exit fee" of an undisclosed amount. They've learned the tricks of the sub-prime mortgage lenders, and will cause the same havoc.</p></div></body>