Maryland electric customers, both residential and business, are finding lower electric rates when they shop in the competitive market. Customers who are served by Baltimore Gas and Electric (BGE) and PEPCO are finding the greatest savings.
The exact rate and savings that you can find depend on your individual rate class by your utility and historic usage patterns, but most electricity customers in Maryland can save between 10-20%. As an example, current the current price to compare (default rate) for a BGE class G type 1 business customer is $0.1089 per kwh. We have found a 24 month fixed offer for such a customer at a rate of $0.092 per kwh, a 15 percent savings.
Most Maryland Utility companies, like BGE and PEPCO, offer consolidated billing options which means that customers will still receive their monthly electric bill from their same utility company if they choose to lock in a low fixed rate with a competitive electric supplier.
Competitive electric rates in Connecticut remain well below the price to compare default rates of CLP. Despite this, only 27% of customers (residential, commercial, and Industrial) have chosen an alternative supplier.
Small and medium commercial customers in the CLP territory on default service (i.e. have not chosen a competitive supplier) are paying a rate of $0.11723 per KWh. By contracting out with another electric provider, these customers can lock in rates below $0.10 per KWh and see their bills reduced by over 15%.
Over two dozen electric providers are active in Connecticut for residential and business electric consumers. We recommend signing an agreement that will give you a fixed rate as opposed to a variable rate that can change from month to month. The fixed electric rate will give you an apples to apples comparison against the CLP default rate and will guarantee that you save money as long as the rate is below the 0.117233 default rate.
Ask us for a comparison chart for your specific home or building. Power prices are low.
