Energy choice participation is picking up in the Baltimore Gas & Electric service area as consumers are becoming more aware of legislation that allows them to shop for competitive electric rates. Competitive electricity companies have entered the Maryland electric choice market in hopes of gaining market share by offering low electric rates and alternative green energy options. The infusion of new competitive electricity companies is helping to spread the word about customer choice, but finding the best BGE electricity prices for your home and can be difficult if you don’t know where to start.

One of the easiest ways to find the best BGE electricity rate is to use a electricity price comparison site that allows you to easily look at different offers side by side. Similar to price comparison sites in the travel industry that allows consumers to compare flight and hotel rates with a click of the mouse, electricity comparison sites force energy companies to offer their very best electricity prices. Some other factors that energy customers will look for are the length of the contract, amount of green energy used, enrollment bonus offers, an early termination fees.

Often in a newly deregulated electricity market, consumers are slow to compare and switch electric rates due to them not fully understanding the benefits. The primary reason most people begin their research into finding the best Baltimore & Gas Electricity rate is to save money. Maryland consumers have been quick to adapt to electricity choice as the savings have been significant.

Look for the current best BGE electricity price below.

PECO Energy has announced that their default supply electricity rates will increase on September 1, 2013. The increase will be about a full penny per kilowatt hour higher than the rate that was charged during the summer, resulting in a $10 per month increase for a home that uses 1,000 KWh in a month.

The power rate increase will only occur for those PECO Energy customers who have not shopped for competitive electricity. To date only 31% of PECO residential customers are buying their electricity from a alternative energy supplier, meaning that the rate increase will take place for 69% of customers in southeastern Pennsylvania. The rate increase has presented a savings opportunity for these default paying customers. The increased PECO rates combined with lower competitive electric rates gives customers the chance to save money on their electric bill if they are willing to spend a few minutes shopping for competitive power rates.

Many customers have chosen to lock into long term fixed rate electricity agreements with energy companies that will not only protect themselves from the rate increase that will take effect in September, but also protect them from future potential rate increases. Many energy analysts are forecasting energy prices to increase from now throughout 2014 making now an idea time to lock in low fixed electric rates.