BGE Electric Rates has been providing the energy needs of Baltimore for a number of decades. The company covers a large area, which includes all or part 10 counties in central Maryland. The company provides a range of services including new construction projects and financial assistance. They also have a smart energy program. This program offers discounts on appliances with energy star ratings and home energy audits.
Since the regulation of the electricity market in Maryland customers can now opt to purchase their electricity from alternative suppliers. Customers can select from a wide range of electricity providers through the state’s Energy Choice program, which includes national and small-scale local utilities. The program also allows customers to select a flat-rate service, known as Standard Offer Service. This is a rate that is approved by the Maryland Public Service Commission (PSC) and is offered to customers who do not choose the Time of Use (TOU) supply option. At present, the Standard Offer Service rate is $0.11 per kWh.
The price of electricity has increased by 15% over the past few months. This rise was partly due to sanctions imposed by Russia and the ongoing inflation. The Energy Information Administration (EIA) warns that energy prices are likely to increase, as the federal government continues to enforce sanctions. The cost of gasoline is expected to rise too.
According to a recent report by the Federal Energy Regulatory Commission, the cost of natural gas will rise by around 6% in the coming year. In conjunction with the decline in the prices of other commodities consumers can expect to reduce their overall bills. The average consumer will see gas prices rise by around $2.
In addition to the cost of gas, customers also be charged for delivery costs. These charges are added to the bill as separate line items. The price of transmission charges could change in February. Affected customers should shop for the lowest rates in order to get a rate that will safeguard them from wholesale market fluctuations.
If you live in the Baltimore region and are considering changing providers and are considering a switch, the PSC approved an increase of three years in 2020. Customers who aren’t able to switch to a new supplier can opt to shop on the open market to lock in a rate. The rate will show on the bill within several billing cycles.
BGE plans to upgrade its energy infrastructure in Baltimore over the next few years. This includes the installation microgrids that look like smart grids. The company is also planning to construct more than 60 miles of underground circuits. It is also expanding its outreach to minority-owned businesses and historically underrepresented groups. In recent years the company has poured in more $1.8 billion to enhance its services.
The company offers an online calculator for home energy that can help customers decide which BGE rate for their needs. The app is available to both business and residential customers. It can also be used to manage multiple accounts at once. It gives easy access to account information, as well as the status of outages. Customers can also sign up for a budget-friendly billing plan.