Pepco and Delmarva File New SOS Electric Rates

Modestly lower SOSO electric rates promised for June. But we have to get through an expensive winter first. Can you afford not to shop for a cheaper rate?
Pepco and Delmarva might offer modestly lower SOSO electric rates in June. But we have to get through an expensive winter first. Can you afford not to shop for a cheaper rate?

Watch Pepco Electric Rates 2021

While winter is often when MD residents have to deal with their high electricity bills, it’s always a good idea to know where electricity rates are going next year.  At the tail end of October, Pepco and Delmarva filed their 2021 summer standard order service (SOS) rates. The question becomes how will these electric rates affect MD resident’s energy budgets?

Compare Upcoming SOS Rates

Luckily, Pepco rates are dropping by about 10% starting in June 2021. Their SOS rates are dropping from the current 6.516 cents per kilowatt-hour (kWh) to 5.864 cents per kWh. Delmarva rates are seeing a marginal decrease. They will be going from the current 6.7061 cents per kWh rate to a 6.6802 cents per kWh rate in June.

Consider these rates with an average Maryland monthly usage of 975 kWh. Pepco customers are going from a monthly generation cost of about $63.53 to $57.17. Delmarva customers will go from an average monthly generation charge of $65.38 to about $65.13.

Why Shop Now For Electric Rates?

With these 2021 summer rates declining somewhat, it’s easy to say that you don’t need to shop around or switch. But deregulated electricity gives the power to find the best deals and services for you. Let’s not forget that this new pricing will only last for four months, and will come after the heavy snowfall and cold winter predicted by this extended forecast.

MD energy companies often offer great deals that can last from 9 months to 36 months. These electric rate plans offer benefits ranging from renewable energy for your home, long-lasting stable pricing, and shopping discounts. This extra value can’t be ignored, especially as we get closer to the holiday shopping season.

But finding cheap fixed-rate electricity isn’t the only reason to shop now.

The EIA short-term energy outlook predicts an increase in electricity spending by about 7% compared to last winter.  This rise will likely be caused by the global pandemic keeping more families home this winter than ever before. So, it’s possible that the average Maryland usage could jump from 975 kWh to 1043.25 kWh. That increased power usage will likely cause increased bills, especially you haven’t looked into weatherizing your home.  And higher demand can lead to price spikes.

In other words, shopping for low fixed rates now can give you stability and predictable costs in the coming year.

How to Shop for Electric Rates

The best energy shoppers start by comparing electric rates from energy suppliers with their local utility rates. If an energy company offers a lower fixed-rate price, then it’s an easy choice. But don’t look away if pricing is comparable.

These are a few alternative benefits that can add value to plans.

  • Consider what type of energy is provided.
  • Some homeowners want renewable energy in their homes. This helps protect the environment by lowering your carbon footprint.
  • Read reviews about the company
  • Even the best deals can turn sour if a company is known for poor customer service. So make sure you check out our reviews and ratings to see which companies are worth looking into.
  • Ask about energy saving services and benefits
  • Some energy companies may offer energy usage tools, discounts and rebates for energy-saving upgrades, and more. These companies will help you save in the long-term with small manageable upgrades today.

What The New SOS Electric Rates Mean

The summer rates for Delmarva and Pepco sound better than their current SOS pricing but in truth, they only offer a modest savings. That’s the reason why they shouldn’t keep you from checking out alternative electric rates. Retail providers can provide a suite of benefits that can offer greater value at a lower price. But to get those savings, you need to shop these plans now.

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

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