Shop Electricity Rates During Moratorium
Maryland Governor, Larry Hogan, announced an extension of the moratoriums on utility shutoffs until July 1st. This is great news for anyone struggling with their MD utility bill during the Coronavirus epidemic. With the U.S. economy re-opening just getting started, electricity rates are still low. So there’s still time to switch to a better energy plan. Potomac Edison customers, in particular, can use this time to shop for the best 12-month fixed electricity rates that meets their family’s needs.
Potomac Edison kWh Rate
The cost of their electricity bills is the first consideration for many energy shoppers. So any consideration over a competing supplier has to begin by comparing it to the Standard Offer Service (SOS) price. The current SOS is 6.095¢ per kWh. From October 1 to May 31, 2021, the rate drops to 6.016¢ per kWh. Considering EIA’s average electricity usage in Maryland, that means an expected generation charge of $727.91 over 12 months (about $61 per month).
Competing companies will either offer lower rates, great benefits, or renewable energy sources to make their offers more attractive. The following plans are some of the best electric rates are worth looking into.
Cheapest Fixed-Rate Offer
Constellation currently offers the most competitive pricing compared to Potomac Edison with their 12 Month Home Power Plan. The plan charges a rate of 6.29¢ per kWh, which averages to a monthly generation charge of about $63. The slight increase in price is compensated for with features including a refer-a-friend program that gifts $50 gift cards to you and any friend you get signed up with Constellation, plus you get weekly energy usage emails. This electricity company’s contract also offers a 90-day guarantee period where you can switch without penalty.
Best Renewable Energy
Xoom Energy has a great 12-month fixed rate for any customer willing to pay more to reduce their carbon footprint. The SimpleClean 12 plan charges a rate of 6.79¢ per kWh which averages to a monthly generation charge of about $68. Besides offering clean energy, this plan also comes with the Xoom Energy Rewards program that offers gift card giveaways and discounts on shopping, dining, and travel.
Best Risk-Free Electricity Rates
Direct Energy offers their Live Brighter 12 plan. Direct Energy is highly competitive in the Maryland market. This plan’s rate dropped from 6.99¢ rate this past December and now charges a supply rate of 6.79¢ per kWh, which averages to $68 monthly. What makes this plan stand out is a lack of early termination fee, meaning you can switch-out at any time at no cost. The plan also offers a referral program that gives $50 gift cards to you and any friends who sign up with your code.
Compare Electricity Fixed Rates
Choosing the right fixed-rate electricity plan for your home depends on what matters most for your needs. Constellation offers a refer-a-friend program and weekly usage emails to help monitor your electricity. Xoom Energy offers the cheapest green electricity and a handy discount program. Direct Energy offers a risk-free alternative that comes with an excellent referral program.
While Potomac Edison’s SOS does offer the cheapest electric rates, it offers no other benefits or programs. Plus, the SOS rate is only good for 7 months. These suppliers let you lock in low rates for 12 months or even longer. You can learn more about saving money and lower electricity prices by comparing rates and plans at www.mdenergyratings.com.