Shop ahead for Spring Electricity Savings
We’re half way through January and that means the heat is on across most of MD. And when the heat is on, that means dealing with seasonally high electricity bills. But it’s not too late to shop around for lower prices and bigger energy deals, especially in BGE’s service area. Find out how you can get the best electricity deals for BGE.
Consider MD’s energy usage
Smart energy shopping starts by knowing what you can expect from an energy company’s average monthly supply charge. And you can calculate that by checking out EIA’s average monthly bill report. According to the report, MD customers use 957 kilowatt-hours (kWh) of energy per month.
Right now, BGE’s price to compare (PTC) is 8.33 cents per kWh. Because of this, BGE customers pay an average of about $80 per month on supply charges. On June 1, 2022, this rate drops down to 7.749 cents per kWh (or about $74 per month). So right now, the best plans to shop for are short-term rates to get you through to the June price drop.
Cheapest Short-Term Electricity Deals
NRG Home is worth checking out if your main concern is finding the best possible savings. Their Electric Choice Plan 3 Month plan charges 7.90 cents per kWh for 3 months of service. That means an average monthly supply charge of about $75. Best of all, the plan doesn’t charge any ETF, so you can cancel or switch for better deals at no cost. The only drawback is that the plan renews into a variable month-to-month rate. So customers should make sure to switch or cancel before the plan renews.
Best 6-Month Rates per kWh
Some energy customers prefer to spend less of their time hunting down deals. Customers who want ot switch now might consider switching to 6-month plans since switching now would cover them until July.
NRG Home’s Electric Choice Plan 6 Month plan offers the same benefits and advantages of NRG Home’s 3 month plan. However, the plan charges a 10.10 cents per kWh rate. This equals a monthly supply charge of about $96. In addition, the plan also renews into a variable month-to-month rate.
On the other hand, you might consider APG&E’s True Simple 6 plan. APG&E charges 12.19 cents per kWh for this plan. This equals about $116 in monthly supply charges. The company does add value with their $100 gift card offer that could benefit frequent shoppers. However, the plan does charge $100 in ETFs as well as a $1.99 monthly recurring charge. Lastly, the plan does renew into a month-to-month variable rate.
Shop best electricity deals for you
Winter heating costs are certainly going to drive up energy bills this winter. So now’s the perfect time to shop ahead for better deals before BGE’s rates drop in June. But if you want to save money with the best deal around, then you should switch to NRG Home’s Electric Choice Plan 3 Month plan. This way you’ll be covered until March or April when you may be able to shop lower rates.
You can read customer reviews of these and other great Maryland electricity plans when you compare rates at https://www.mdenergyratings.com.