BGE Electricity Rates Increase!
With more families staying at home during the pandemic, high energy bills are a huge concern for Baltimore residents. That’s why smart energy shoppers are always looking for a better deal on the cheapest electricity rates. Since the Baltimore Gas and Electric (BGE) standard order service rate will increase this October, now’s the perfect time to switch to these top-rated 12 month electricity plans from these suppliers.
What are BGE electric rates?
Smart shopping begins by knowing what you could pay for your monthly supply charge if you remain with BGE. In Baltimore, that means customers face paying 6.802 cents per kilowatt-hour (kWh) from August until September 30 and then 7.349 cents per kWh from October 1 through May 31, 2021.
Considering this average monthly bill estimate of 1,005 kWh used per month, Marylanders face an average supply charge of about $73.85 from October through May. Add these to the delivery charge of .03507 cents per kWh outlined by BGE rates. The total adds up to an average of about $103.60 – $109.10 for the next ten months.
So, can you afford not to switch? Especially when these top-rated electric rates below either beat this cost, provide excellent customer benefits or both?
Cheapest Baltimore 12-month Electricity Rates
Tomorrow Energy’s 12 Month Fixed plan is the cheapest 12 month fixed-rate electricity available to BGE customers. The 6.89 cents per kWh rate means that residents pay about $69.24 on supply charges for 12 months. While that’s 88 cents more than BGE to the end of September, that’s about $4.61 less per month than BGE’s higher rate beginning in October. Best of all, Tomorrow Energy’s plan offers 100% renewable energy, making it a great choice to reduce your carbon footprint.
According to the Terms of Service, you must choose to either a new supplier or a new contract with Tomorrow Energy. If you do not, your account will move to a variable month-to-month rate (which can be expensive).
Risk-Free Electricity Rates and Rewards
Starion Energy‘s Secure Energy 12 program provides the cheapest electricity rate at a 7.29 cents per kWh. Assume you switched in time for the BGE rate increase in October. This would have an average supply charge of $73.26 per month, saving you about 58 cents per month compared to BGE. This may not sound like a lot until you consider that Starion Energy offers an excellent rewards program that benefits frequent diners and travelers. The Starion Rewards Program offers up to $1,200 a year in savings on travel, shopping, and dining.
According to the contract summary, after the initial term, the plan does renew into a variable month-to-month rate. Subscribers should make sure to switch their plans before the first billing period of the new term. You can also cancel the plan at that time without an early termination fee.
Best Rated Maryland Electric Company
Constellation’s 12 Month Home Power Plan provides power for a competitive rate of 7.39 cents per kWh. This averages to a monthly supply charge of about $74.26. Constellation compensates for the slightly higher-than-BGE electricity rate by providing a suite of features that their customers love. These include weekly emails so you can better manage your power usage and one of the best refer-a-friend programs around. You and your friends and relatives receive a $50 prepaid gift card anytime they sign up.
Constellation‘s contract summary also mentions two other excellent benefits. The company provides an unmatched 90-day guarantee period where you can cancel or switch without being hit by their early termination fee. The plan also explicitly states that it renews to a fixed-rate product if you don’t switch at the end of the initial term.
Best Long-Term Electric Rates
Spark Energy’s Spark Secure 24 plan provides an excellent alternative for residents who commit to a longer term rate. The 7.49 cents per kWh rate averages to a monthly supply charge of about $75.27 per month. While that is more than BGE’s October rate, there’s a potential for BGE to raise rates further over the next two years. Spark Energy compensates for the (current) higher rate compared to BGE with the Spark Energy Rewards program. Not only are customers entered into daily drawings for prepaid gift cards, but you are also entitled to discounts on shopping, travel, and dining. If you like going out, then the savings will more than make up for the increased home power costs.
Close to the end of the initial term, Spark Energy will send written notice of what your plan will renew into; be sure to read the notice carefully. It will describe how and when you can cancel without early termination fees.
Which Electric Rate Is Right For You?
Energy costs are a high priority for Baltimore residents, especially with the realities of the global pandemic. So choosing the cheapest electricity rate for you depends on how much you value benefits to flat costs. Tomorrow Energy’s 12 Month Fixed plan provides green energy at a rate that beats BGE’s price increases that start in October. Starion Energy’s Secure Energy 12 plan provides cheaper rates in October and an excellent rewards program. Constellation’s 12 Month Home Power Plan has customer friendly guarantees and programs and a potentially lucrative refer-a-friend program. Spark Energy’s Spark Secure 24 plan provides stable pricing for long-term residents and an excellent shopper’s benefit program.
Of course, every Maryland electricity customer has different needs. You can learn even more about saving money and energy by comparing rates and plans at www.mdenergyratings.com.