The Maryland electricity market is currently deregulated. This means that customers can shop around and find the best energy plan for their needs. This is a great opportunity for customers to save money while choosing from a variety of plans that include renewable energy as well as green energy plans. These plans can help reduce your carbon footprint and ensure that more renewable energy is incorporated into our grid. You may also get cash back when you sign up for a green energy plan, or make a charitable donation.
Maryland was able to regulate its electric supply market in 1999. The utility companies were still accountable for supplying power to everyone, but they were no longer required to deliver it. Instead the PSC regulates the charges for supply to the utility companies. This permits customers to switch to a retail energy supplier which can provide better rates and products.
At the moment, 17 percent of Maryland households are using electricity supplied by third parties. This is down from a peak of 26 percent in December 2013. The rate of households switching to third-party suppliers has slowed substantially since 2013, but the numbers are increasing.
The cost of electricity will drop if there is more choice. Many retail energy providers offer fixed or variable rates that lock in your electricity supply rates for a specific time. These fixed rate plans could include government fees, taxes and utility delivery costs. You can also select 100% renewable electricity plan that will offset your energy consumption with credits for renewable energy.
The Energy Shift Challenge rewards customers who make smart energy choices and you earn points each month. This campaign is a collaboration of NRG, Constellation and Sunrun. You can earn points for energy consumption and also receive perks such as travel rewards or cash back.
AEP Energy is Maryland’s largest electricity supplier. AEP Energy provides market-based rates to its customers and a more reliable, convenient energy experience. AEP Energy offers a variety of plans. Sign up today for an AEP Energy plan.
MD Energy choice system is currently being upgraded. In addition to the deregulation of electricity, the Maryland natural gas market is also being reduced in regulation. The deregulated markets permit Maryland residents to purchase electricity from private companies, such as Constellation or AEP Energy. You can shop and compare different rates of electricity online, and then pick the one that gives you the most price for your budget.
The Maryland 2021 General Assembly passed a law to protect families receiving energy assistance. This legislation did not protect 404,000 households from paying for energy that were higher than the regulated level. This meant that only families with low incomes were covered, as well as those who received energy assistance. Despite the protections, families who are cash-strapped still had to pay more for energy. The families were required to pay $650 more per year.
Other states have also reduced the regulation of their electricity markets. This gives consumers more choices however it also puts them at a disadvantage. Pipes and infrastructure are still controlled by utilities. The deregulation of the electricity market will give them a more profitable chance to compete, and the state could encourage the use of renewable energy sources.