The BGE supply price comparison rate and competitive BGE electricity rates are going in opposite directions as the summer approaches. Maryland’s electricity choice market has pushed competitive prices down for consumers who receive their electric bill from BG&E as electricity companies have thinned their margins in order to attract new customers. Meanwhile the supply price comparison rate, the default rate for power supply that customers who do not choose a competitive supplier pay, has steadily increased over the last year and is about to get even higher.
Currently the BGE supply default rate is $0.08815 center per KWh. That rate will increase by 7.2% to $0.09453 on June 1, 2015 and last for at least the entire summer through the end of September. ElectricRate.com reports that the lowest BGE fixed competitive rate is $0.0838 per KWh which provides a 5% savings relief off of the BGE default rate through May, and a 11.5% savings over the summer. Locking in a low electric rate in Baltimore will save you money in the near term and give you price protection against future price spikes that BG&E might impose at a future date.
Below are current competitive electricity rates being offered by licensed energy suppliers in Maryland. All rates are updated in real time. Choosing an electric rate offer that is lower than the BG&E default rate will provide savings on your monthly electric bill.