Baltimore Electricity Plan Ending? Do This And Save!

Posted on Posted in best electricity plan, BGE, Compare rates, electricity in Maryland, electricity suppliers, fixed rate plans
Learn how to save money when your Baltimore electricity plan ends!
Got a notice that your Baltimore electricity plan is about to expire? Don’t waste time! Learn what you can do to save money on your next plan!

What’s this End of Service Notice?

Even though Baltimore customers try their best, it’s easy to lose track of your terms of service documents. Because of this, you might be surprised by end of term notices that might arrive around the last 30 days of service. But it’s never too late to get ready and make the most of the end of your fixed electricity rates. So, if your Baltimore electricity is about to end, do the following and save!

Get Electric Rate Information

Baltimore customers usually shop for the best energy companies to save money. Low electricity rates and valuable benefits or perks are excellent reasons to switch in the first place. But to make sure that your energy saving choices keep saving you money, you have to do a little bit of research.

Start by checking out the utilities price to compare (PTC). If the current and upcoming PTC is higher than your plan’s renewal rate, then you might consider accepting the renewal. For example, BGE’s PTC rises to 8.410 cents per kWh starting in October of this year. So renewal plans that are better than that rate might be worth keeping so you avoid high MD electricity bills.

Next, you’ll want to check if the plan automatically renews into a new fixed rate or a variable rate. This way, you’ll know how to be ready if you want to shop for a new Baltimore electricity plan and save!

Shop for Best Fixed-Rate Electricity

If the end of term notice offers a new fixed-rate, then you can just compare that rate to the PTC. But what do you do if the PTC is slightly better than the energy company offer?

First consider any benefits or rewards that the energy company might offer. Take Constellation as an example. The company offers a refer-a-friend program that can earn you and your friends $50 prepaid cards for every sign up. Other companies offer discount and reward programs that can benefit frequent shoppers, diners, and travelers. These programs don’t directly cut your Baltimore electricity bill but they do save you money.

Considering the electric rates and benefits will help you narrow down your choices to the plan that works best for you.

Avoid Month-to-Month Variable Rates

But what about electricity rates that renew into monthly variable rates? These monthly supply charges can be hard to predict. Because the PSC doesn’t regulate supplier prices, variable month-to-month rates usually cost Baltimore customers a lot of money. That’s why it’s important to get away from them fast!

Start by reading reviews of competing energy companies to see which ones are best trusted by customers like you. Also check out recent articles relevant to your local utility, such as our recent list relating of articles relating to BGE. You should end up with a short list of options that, ideally, offer benefits that you want and rates that beat the PTC.

After you find the right plan for you, read your current plan’s notice. It will detail the steps you need to take to switch or cancel your plan after the initial term without any fees. This becomes even easier if your current plan doesn’t charge an early termination fee.

Save Money on Baltimore Electricity in 2021

It can be easy to be caught by surprise by end of term notices. And that’s especially true if you lose track of their terms of service papers. But it’s never too late to save money by doing a little research and shopping. Once you understand your new rate offer and the PTC, check out your electric rate options. Remember: BGE‘s PTC rises this October, so make sure you keep saving money into the winter.

You can learn more about saving money and energy by comparing rates, plans, and provider reviews at www.mdenergyratings.com.

Leave a Reply

Your email address will not be published. Required fields are marked *

Website Protected by Spam Master