Maryland Electricity Rates.
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Deregulation in Maryland
If you live in Maryland, you’re one of the many states that benefit from deregulated electricity prices. Since 1999, the state of Maryland has been deregulated. This means that if you work or live in MD, you can choose who supplies your electricity.
Deregulation drives down supply costs and creates competition amongst suppliers. That’s because there’s plenty of market competition to get Maryland electric suppliers vying for your business.
While all that choice means you can often benefit from better service at lower costs, it also means choosing the right supplier can take some time if you shop on your own. Time for sifting through industry related terminology, contracts and products. We’re here to help you make sense of it all. Feel confident in choosing Maryland electricity rates through EnergyPricing.com.
Electric Utilities in Maryland
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Small businesses and residences using under 250,000 kWh per year that want to see Maryland electric rates immediately can utilize our shopping portal.
Types of Electricity Plans
In Maryland, there are a number of different plan options for you as the consumer. Knowing which is best can at times seem overwhelming. Let us simply your search and tailor a plan to you.
You’re charged the same rate for the length of the plan, making it much easier to budget. The price you lock in will be applied per kilowatt hour on your monthly bill for your supply charges. Committing to a fixed rate has its pros and cons as far as risk goes.
In a variable-rate plan, you pay based on the market price for electricity each month. This product comes with a much higher risk to reward. You might save a little, but you might pay more, too.
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Before Your Start Shopping
Let’s review a few important key items.
A supplier might draw you in with an introductory rate. It’s likely that those marketed rates are only available for the first enrollment with the supplier. After that, you are subject to a custom price with that specific supplier.
Additional Fees and Charges
Always consider additional fees such as those for capacity and transmission. Not all fixed rates are created equal and it’s possible that your agreement allows for pass-throughs. Know upfront what those costs are that could be adjusted up or down with the market.
Determining the best contract for your energy is important. If you’re moving your business or downsizing, a contract that allows for those changes may be more favorable than simply the cheapest rate.
Familiar Energy Industry Terms
Working with energy suppliers can get confusing. There are quite a few different terms you might come across that aren’t so clear. Here are the basics:
Your energy supplier is the company that purchases and provides the electricity used at your home or business. Working with a third-party supplier means you’re getting your energy from them rather than through a utility company.
Utilities are the ones that distribute energy from the power supplier to your location. The costs of distribution is determined by the utility and cannot be adjusted.
Consolidated and Dual Billing
These terms refer to how your bill is divided up between the two entities. A consolidated bill is more common, including costs from both the utility and the supplier, and comes from your utility company. A dual bill splits them up, and you’ll get a separate bill from both parties.
Simplified Ways to Switch.
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