Compare Electric Rates in Maryland
Thanks to deregulation, Maryland natural gas and electricity customers have a choice. They can continue getting their energy supplied by the state public utilities or they choose a competitive supplier. If you do not shop for electricity rates in Maryland, you pay a default energy supply rate known as the standard offer service. However, if you find electricity or a natural gas plan with a lower rate for your zip code, you will save money on your electric bill.
Comparing Electricity Rates in Maryland
There are five Maryland energy companies owning power lines and delivering electricity in the state of Maryland. Depending on which of them operates in your area, you get charged different electricity rates. If they are your energy provider, you are able to compare their rates against the retail electric suppliers and, when you find a good offer, simply make the switch. Remember, if you are currently locked in a fixed-rate electricity plan, exiting might result in an early termination fee.
Lowest electric rates in Maryland today:
Maryland Energy Market Data
Last updated June 2022
- The average Maryland residential electricity rate was 14.16¢/kWh(6% lower than the national average).
- The average Maryland commercial electricity rate was 12.40¢/kWh (7% lower than the national average).
- Maryland’s commercial and residential rates are lower than the regional averages.
- According to the EIA 2020 average monthly bill report, Maryland consumed 957 kWh of energy each month on average. At the predicted 14.16¢ per kWh cost, residents paid $135 every month in 2021. That’s about $406 for a three-month span!
- Maryland consumes more than five times as much energy as it produces. The state imports 97% of its electricity from outside providers. Electricity in Maryland is more expensive than the national average, but it is less expensive than in most other northeastern states.
Source: Maryland energy data from The U.S. Energy Information Administration (EIA)
Maryland Energy Companies
The state of Maryland has four electric and natural gas utilities Delmarva Power and Light, Potomac Edison, Baltimore Gas & Electric (BG&E), SMECO and PEPCO. Let’s make one thing clear – these companies deliver your electricity, restore outages, and maintain power lines. This is the company you are required to call when your electricity goes out, even though your electricity supply comes from a different provider.
Baltimore Gas & Electric (BG&E)
With more than 200 years of service under its belt, BGE is the largest electric and natural gas utility in central Maryland, encompassing Baltimore City and all or part of 10 Central Maryland counties.
- Customer contact number: 1-800-685-0123
Member of the Exelon Corporation, Delmarva supplies energy to approximately 527,000 electric customers covering most of the northern Maryland territory.
- Customer contact number: 1-800-375-7117
Potomac Edison, a member of the FirstEnergy Corp group, serves about 257,000 electric utility customers in seven Maryland counties.
- Customer contact number: 1-800-686-0011
- Current standard electricity rate: 5.97 ¢ / kWh
PEPCO supplies approximately 883,000 customers in Maryland and District of Columbia, covering some 640 square miles of territory.
- Customer contact number: 1-877-737-2662
Southern Maryland Electric Cooperative (SMECO)
SMECO supplies electricity in Maryland to all of Charles and St. Mary’s counties, all but the northern tip of Calvert County, and the southern portion of Prince George’s County.
- Customer contact number: 1-888-440-3311
- Current standard electricity rate: 8.84 ¢ / kWh
Energy Deregulation in Maryland
Maryland deregulated its energy market in 1999 with a Competition Act and two decades later, several local utilities are competing for the attention of Marylanders with cheaper prices, better customer service, and products.
The state agency that oversees the deregulated energy market is the Maryland Public Service Commission, whose role is to ensure that your interests as the customer always come first. Today, nearly all Maryland residents can electric customer choice.
What does energy choice mean? If you live in Maryland, you can compare electricity rates in your area (zip code) and switch Electric Service Companies (ESCOs) when you find the right energy plan.
Maryland Electric Choice
Maryland Electric Choice, a state-wide official program was created to encourage residents to shop for electricity and natural gas rates, find information about Maryland electric suppliers and other state energy initiatives. In it, you can compare the standard rate (Price to Compare) charged by the local utility company with a variety of competitive electricity rates offered by retail energy suppliers. All you need to is select your energy provider and estimate, what is your average monthly electricity usage.
Like Maryland Electric Choice, ElectricRate also allows you to compare available Maryland electricity rates and retail energy providers, but our web-based comparison tool also offers additional benefits.
|Switch to your new service in a few clicks - When you enter your zip code on ElectricRate, you will not only see all rates, with the cheapest deals displayed on the top of the list, but you can also sign up immediately with just a few clicks.|
|All the information you need in one place - As customers, we all like excellent customer service and extras. That's why at ElectricRate, we carefully review all major suppliers and compile information about customer support hours, ratings, and extra benefits that they provide, such as attractive referral programs, complementary goods, and value-add services.|
|Get the support you need: Our team at ElectricRate is ready to provide ongoing support to customers, including helping you choose the plan that best fits your lifestyle, notifying you when your plan is about to expire and any additional support you might need. All you need to do is give us a call at 1-888-307-9636 or email [email protected]|
Maryland Energy Market Overview
Electricity in Maryland certainly isn’t a cheap affair. The combination of high average electricity rates (12.3 cents per kWh) and high average energy usage (18th highest in the US) results in the average electricity cost in Maryland being among the highest in the country or approximately $140 / month. Luckily for Maryland households and businesses, deregulation allowed competition in the electricity supply market which means freedom to switch to a cheaper rate.
When you switch energy companies, your local electric company will continue to deliver electricity safely to your door through the state power lines. It’s also them you call in the case of an electric or natural gas emergency. The only thing that will change will be the supply portion of your monthly bill – which will now have the name of your new Electric Service Company (ESCO)/new supplier and a better supply rate!
Energy Plans & Products in Maryland
Energy plans are like shoes. One size does not fit all. Navigating through complex information about power rates can be confusing and can ultimately deter you from shopping for better Maryland energy rates. Below is all you need to know about different products that power companies in Maryland offer to customers:
|Plan||Description||What's Good?||What's Bad?|
|Time of Use Tariffs||You pay a different rate based on the time of day (higher rates during peak hours and lower rates during non-peak hours)|| |
|Renewable Energy Credits (RECs)||By purchasing 1 REC, you purchase the environmental benefits of 1MWh of renewable energy generation.|| |
|Green / Renewable Energy Plans|| |
|Prepaid Plans||This plan lets you pre-purchase power for your home at a set price, like a prepaid cell phone.|| |
|Variable Rate Plans||Your per-unit gas and electricity costs can vary at the discretion of your supplier.||
|Fixed Rate Plans||Your unit price for gas and electricity will remain the same for the duration of the plan.||
Is Switching Providers Worth It?
It can certainly be worth it! The state utility companies are constantly trying to increase the electricity rates they charge to their customers. In 2020, nearly all U.S. utilities filed rate hike proposals to be approved by their respective state regulatory commissions.
If you choose a competitive Electric Service Company (ESCO), you can avoid these rate increases by locking in a cheaper rate. However, you will only save money if the new rate is lower than your current Price to Compare (which you will find on your electric bill).
Also, remember to check if you are not locked in a fixed-rate contract. If you decided to leave your plan early, you might have to pay early termination fees, which would cancel out the savings from a cheaper rate.
How To Choose The Right Plan For Your Home
Switching to a new energy supplier might seem complicated, but we promise you – it isn’t! Follow these simple steps to find competitive rates in Maryland:
Analyze Your Current Costs
Look at the electric supply charges on your utility bill, which will be expressed in cents per kilowatt-hour. This number is called your Price to Compare and your primary objective is to find a plan with a lower number.
Review Your Current Contract and Plan
Switching suppliers in Maryland can be costly if you are the type of person that tends to skim through the fine print in your contract. For example, if you are currently on a fixed-rate electricity plan, there might a penalty from your energy provider for switching out too early – check if you are able to switch without a fee.
Compare Energy Plans
Use our online search and shopping tool to see available electric rates for your zip code. Find the electricity provider with the lowest rate and if you like what you see, you can sign up right there and then! A pro tip – We all like good customer service. That’s why at ElectricRate.com, we only promote rates from Maryland’s reputable power providers, based on their prices, electricity plans, customer service, and extras! Before you sign up, read our review of your new supplier for your energy to avoid surprises.
Getting To Know Your Maryland Electricity Bill
There are two main charges on your Maryland electricity bills – supply charges and a transmission & delivery service (TDS) charge. Understanding what they both mean will give you more control over your spending on electric utilities and can even inspire you to find lower Maryland electric prices.
Utility Delivery Charges
The delivery charges reflect the costs of reliable transmission and safe distribution of power to your home. According to a 2015 U.S. Department of Energy report, 70% of power transmission lines are 25 years of age or older and in need of hefty investments, meaning that the delivery charges on the utility bills are bound to go up in the coming years.
The supply charges of your utility bill cover the cost of generating electricity. This could, for example, be the cost of operating a nuclear power plant or the cost of setting up a solar farm or a wind farm. If you live in one of the deregulated states, you can switch energy suppliers to reduce your bill’s electricity supply charge portion. This charge on your energy bill is expressed as the price per kilowatt-hour of energy.
Alternative Energy Solutions in Maryland
According to the EIA, Maryland’s renewable generation is distributed across the state and consists mostly of solar, hydro, and biomass. As a result, Maryland residents have a variety of options to choose from, if they want to switch to cleaner electricity.
Switching to a green electricity plan - Every provider in Maryland offers at least one partially or fully renewable electricity plan. Enter your zip code on our website will show the available green energy plans with great competitive rates.
Installing a solar panel - Maryland homeowners can work together to get competitive pricing for installing solar panels. The organization Solar United Neighbors organizes Maryland neighborhoods into co-ops and offers them support throughout the solar process.
Community solar energy - The local utility companies Baltimore Gas and Electric, Potomac Electric Power and Delmarva Power each have a community solar program to give access to solar energy for the consumers, without having to own a property.
Below are answers to some of the questions you might have about Maryland rates:
What are the current average Maryland electricity prices?
According to the Energy Information Administration (EIA), Maryland’s average residential electricity price is 11.24 cents per kWh. It varies slightly, based on which local utility company services your local place. If you shop around and switch to a retail energy provider, you might be able to find a more competitive rate and lower your energy bill.
What is the average electricity bill in Maryland?
Because of a quite high average usage (18th highest in the US), Maryland electric bills turn out to be among the highest in the country or approximately $140 / month on average.
How do I choose an energy supplier?
Don’t wait to shop around for a better electricity rate! You can compare the available rates on the official state program Maryland Electric Choice, or simply enter your zip code on our website to shop for electricity and natural gas plans. Whether you are looking for a fixed-rate plan or a variable-rate plan, renewable energy or prepaid plans, switching suppliers, or moving to a new address, we have electricity plans to fit your needs.
What is the electricity supply charge?
The supply charges of your energy bill cover the cost of generating electricity. This could, for example, be the cost of operating a nuclear power plant or the cost of setting up a solar or a wind farm. In states with energy deregulation, such as Maryland, you can choose among competitive suppliers who offer a better price per kilowatt-hour, than your current one.
What is the current cost of electricity and does that number change?
The current average residential electricity price in Maryland is 11.24 cents per kWh. It doesn’t mean that that’s your price for electricity – rather, it’s an average of what all residential customers in Maryland pay. Those who have their electricity supplied by the local utility company will likely be paying default service rates which are often higher. Utility companies ask the Maryland Public Service Commission to approve Maryland electricity prices hikes almost every year.
Marylanders have a wealth of choice when it comes to their choice of energy providers. Rather than paying higher rates to Maryland utilities, they can easily compare and switch providers online. There are many available choices – fixed-rate electricity plans for peace of mind, green plans to reduce carbon footprint, or even tax breaks and incentives to install a solar panel. If your current plan with a utility company is the default, shop around to see what’s out there!