Dear Community Member,
Thank you for your interest in Baltimore Power Company LLC (“Baltimore Power”).
On April 25, 2015, the City of Baltimore (“Baltimore”) erupted into riots stemming directly from the death of Freddie Gray, a 25-year old African-American male resident of Baltimore, and indirectly from decades of disinvestment and hopelessness in low-income communities. The riots resulted in the declaration of a State of Emergency in Baltimore, the institution of a mandatory curfew, and the deployment of 2,500 National Guardsmen and more than 1,000 police officers. In an effort to empower low-income communities in Baltimore and with the support of the local community, Baltimore Power was formed to directly address the disinvestment, and in particular, the divergence between increased needs in low-income communities and a declining reservoir of available government and private capital to address those needs.
Baltimore Power has received licenses from the Maryland Public Service Commission to sell electricity (IR-3585) and natural gas (IR-3584) to residential and commercial customers in the State of Maryland. Baltimore Power will use its profits from the sale of electricity and natural gas to engage in impact investing, an investing philosophy that focuses more on the demonstrable community impact of an investment than the financial return of an investment. For Baltimore Power, an impact investment could be the building of a new charter school in an underserved area, the building of affordable housing in an area where low-income families cannot afford the housing that is available, or investing in a social impact bond where Baltimore Power is investing private capital to finance a high impact social intervention that will not only address a social challenge but will also save public resources. By providing individuals, businesses, and institutions with mission-driven capital, Baltimore Power will undertake a comprehensive approach to neighborhood revitalization that also includes financing businesses and funding non-profits—important assets that make up and sustain our community.
Baltimore Power looks forward to undertaking a comprehensive approach to neighborhood revitalization in Baltimore.
With best wishes, we are