Best Shopping Time for Electricity Rates
Starting on April 1 we’ll be in shoulder month pricing. Both natural gas and electricity demand will be at seasonal lows, which means lower energy use, pricing, and bills. About 40% of electricity is generated by natural gas. This year’s natural gas injection season is placed to put record natural gas amounts into storage, creating a surplus that may lower electricity prices. It didn’t help that this January was the 5th warmest on record for the U.S. so less gas was used for heating. With even lower demand in the wake of the Coronavirus epidemic (COVID-19), natural gas in supply is much higher. That means cheap electricity could go even lower.
If you shop now, you could lock in Maryland electricity rates for your home to last you for a long time.
Cheapest Electric Rates
Cost matters, especially with many Baltimore residents stuck indoors or working from home. That’s why smart energy shopping looks for the cheapest rates to prevent high electricity bills. Starion Energy’s Starion Secure 6 plan has a 6.49¢ per kWh rate. This low rate averages a generation charge of $65.22 per month according to MD’s average monthly bill report. Subscribers will enjoy the Starion Rewards program, especially if they are frequent travelers and shoppers. Also, you can switch out at any time since the plan has no early termination fee.
Per the contract summary, Starion Energy will contact you before the last 45 days of service. Their notice will explain that your plan will convert to a variable rate as well as your other options. So if you enjoy their service, make sure you contact Starion Energy first to switch to a new fixed rate plan.
Best Winter and Summer Electricity Rates
We discussed how supply, demand, and national emergencies can affect electricity companies and their pricing. Savvy customers can shop for cheap rates with longer terms now to lock in a very low price that will protect them from price uncertainty and weather related spikes this winter.
Direct Energy.offers two plans that Baltimore residents will want to check out. Live Brighter 10 offers a rate of 6.99¢ per kWh. This averages to a monthly generation charge of $70.24. Compare this to Live Brighter 18 that charges a competitive rate of 7.24¢ per kWh (an average $72.76 monthly generation charge). Both plans are risk-free with no early cancellation fee and lock you in to potential savings well past summer and winter respectively.
Both plans also offer a variety of products and services. These include a refer-a-friend program that gives you $50 prepaid cards and energy usage analysis tools.
Cheapest 12-month Green Electric Rates
With most families stuck at home during the next few months, it’s important to find energy saving measures that work. For many Baltimore residents, there’s no better measure than renewable energy sources. For these green homes, Tomorrow Energy is worth checking out.
Baltimore residents can enjoy their 12 Month Fixed plan for a competitive 6.89¢ per kWh rate. That averages to about $69.24 per month on generation charges. Their $75 early termination fee is compensated for, with excellent response times and positive customer service experiences according to customer reviews.
Subscribers should be ready to find a new provider after the initial term. The terms of service explains that you will automatically renew into a variable month-to-month rate. You can avoid this by contacting Tomorrow Energy about refusing the new terms or checking if they have an available fixed rate.
Compare Electricity Rates and Companies
Many shoppers ask, “Which is the Best Electric Company”? The answer is never an easy one to give, since you want excellent customer service, great rates, and benefits. That’s why Constellation is never far from a discussion about electric providers.
Their 24 Month Home Power Plan is designed for customers who want reliable service from a trusted company. Their 7.49¢ per kWh rate averages to a competitive $75.27 generation charge. This rate is compensated for with a record of prompt customer service and weekly energy usage reports. Constellation also offers a refer-a-friend program that gives you and your referrals a $50 prepaid card for every signup. Every sign up covers about 66% of your average generation charge.
The $150 termination fee may turn away some shoppers. But, this is compensated with Maryland’s highest rated service. Many customers talk about how hassle-free their Constellation experience can be. Some of the frequent praise includes weekly energy usage emails help them track waste, fast response time to outages and emergencies, and easy-to-read billing. This company and plan are excellent choices if you don’t plan on moving anytime soon.
Choosing the Best Electricity Rates
The next few months will see natural gas prices plummet because of increased supply and decreased demand. As the surplus is burned to generate power, these prices will not last. But remember, price isn’t everything and you have the power to choose:
- Starion Energy’s Starion Secure 6 plan is an excellent choice for shopping and travel rewards and low-cost energy.
- Direct Energy’s Live Brighter 10 and Live Brighter 18 plans provide risk-free rates and a variety of programs and benefits.
- Tomorrow Energy’s 12 Month Fixed plan offers the most affordable 12-month green energy plan.
- Constellation’s 24 Month Home Power Plan is a great choice if you want better customer service for the long term.
Choosing the right plan right now depends on what matters to you and your family. You can learn more about saving money and energy by comparing rates and plans at www.mdenergyratings.com.