Electricity & Natural Gas Rates in Maryland
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As a resident or business owner in the state of Maryland, you have the power to choose where your electricity and natural gas supply comes from. As part of the Maryland Energy Choice Program, residents and businesses can purchase their energy from a retail energy provider, or REP.
Energy prices in Maryland could go up! Lock in a cheap electricity and natural gas rate today.
Energy is a commodity that is traded in the market like other commodities, depending on the demand its prices fluctuate. Don’t be caught off guard! Plan to shop at an off-peak time and protect yourself from any market fluctuation.
One of the first things to ask about is the pricing options the supplier offers. Generally, these options fall into two categories: Fixed and Variable plan
Fixed Rate Plan – A fixed rate plan allows you to pay the same rate for electricity/natural gas for the length of the plan, even if the market rate fluctuates giving you peace of mind. This plan normally involves a contract for the length of your choice, ranging from 3 to 36 months.
Variable Rate Plan – Variable rate plans allow your electric/natural gas rate to change from month to month based on fluctuations in the market.
If you choose not to switch to a deregulated energy plan, your utility will continue to supply your electric or gas at a default rate keep in mind, the default rate is likely to fluctuate with the natural rise and fall of energy prices. To compare, choose and save on energy rates from a third-party suppliers, simply Call the number on your screen or enter your ZIP code to get started.
Ever since the deregulation of the energy sector in the U.S started in 1992, it helped consumers to choose where their energy comes from. As of now, 16 U.S. states have introduced deregulated electricity market for the consumers giving them the power to choose between multiple energy partners. A deregulated energy plan offers competitive rates for electricity and natural gas as compared to the local Utility companies of the respective states
Maryland Electric Deregulation is the result of a bill passed in 1999 by the Maryland General Assembly. This bill changed the entire face of the Maryland utility industry. Prior to this legislation, the local electric utility was in charge of procuring and delivering power to the people in their service territory.
After this bill Maryland Public Service Commission approved plans to allow customers the option to buy their natural gas supply from companies other than their local utility company. Since then, hundreds of thousands of commercial, industrial, and residential customers have chosen to purchase their natural gas from a natural gas supplier, rather than their utility.
The Maryland Public Service Commission educates Maryland consumers on energy choice and certifies competitive electricity and natural gas suppliers to ensure they meet strict requirements for doing business in the state. Maryland Public Service Commission also hosts MD Electric choice, a tool that enables consumers to compare electric and natural gas options.
The Maryland Public Service Commission regulates public utility services in the U.S. state of Maryland. Similar to other states Public Utilities Commissions, the Maryland Public Service Commission is responsible for monitoring and managing electricity related regulations for the state.
Did you know Maryland’s small and commercial business owners can save on their energy costs, too? Call the number on your screen or fill out this form (Make a Business form and link here) to speak with one of our experts about building a custom energy plan for your business.
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