SOS October Rates Rise Once Again
The news just broke that BGE SOS rates will rise this October. But this shouldn’t come as a surprise if you’ve been keeping notes on fall electricity rates. So what can you do to keep your Maryland energy bills as low as possible? Let’s talk about the October SOS Rate increase and what you can do about it.
Why Rate Increase Is No Surprise
Late last month, BGE filed rates for the period from October 2024 – May 2025. The filing states that SOS residential rates will rise from 11.154 cents per kilowatt-hour (kWh) to 12.118 cents per kWh. In other words, the supply portion of your electricity bills will be about 9% higher. Considering MD customers use an average of 968 kWh of energy per month, this means supply charges will go from about $107 per month to $117 per month.
As it turns out, this isn’t much of a surprise. For the past few years, October has seen BGE SOS rates rise. For example, last year saw rates jump by 17%. Meanwhile, in 2022, SOS rates spiked by a staggering 30%! Reasons for these predictable price increases include: winter heating demands and the volatile natural gas market.
Shop Now To Beat SOS Rates
Thankfully, BGE customers do have options to save money. Right now, there are several great energy plans and promotions that are cheaper than the October rate. In fact, some of these rates beat current BGE SOS pricing.
For example, Constellation is offering a 12 Month Home Power Plan for only 10.29 cents per kWh. This rate means an average supply charge of about $99 (About $18 less than BGE October rates). In addition to smaller bills, Constellation sends out regular energy usage emails to help you keep on track for your energy saving goals.
On the other hand, you could check out the Spark Energy Secure Green 12 plan if you want renewable energy in your home. This plan charges 10.59 cents per kWh, which averages to a $102 monthly supply charge (about $15 cheaper than BGE October rates). On top of that, Spark Energy customers can enjoy the shopping, dining, and travel discounts available via their rewards program.
Avoid 9% SOS Rate Increase
The competitive retail energy market makes it possible to pay less for the power you use. And with rates rising this October, there’s still time to start shopping for the cheapest rates around. You can always start your shopping right here at https://www.mdenergyratings.com. We’re also the best place to go to catch the news that could affect your energy bills.