Tag: psc

The Cost of Switching Electricity Suppliers in Maryland: $137M

Where are those big savings? According to E.I.A. form 861 filings, Maryland’s actual supplier rate charged is on average above utility standard rates. 

From 2013 to 2015, Maryland homeowners have spent at least an extra $137 million for their home’s electricity because they switched to an alternate supplier. In 2015, this premium cost about $140 per year per customer, an 11 percent rate increase. Ironically, consumers often switch to electricity suppliers to pay lower rates as compared to their utility’s kilowatt rate.

In Maryland, like other states, a deregulated energy market has created a perfect consumer storm for savvy energy suppliers to blow in and sell their products to a consumer base that knows little about their electricity bills and rates. The good news? This is fixable, yet recent Maryland Public Service Commission (PSC) updated regulations will most likely not safeguard Maryland homeowners; many of the ongoing electric choice practices described below are still legal.