Baltimore Gas & Electric (BGE) Commercial Customers looking to shop around for competitive electric rates can expect a lower electric bill upon choosing a competitive supplier. The deregulation of the electricity market in Maryland is opening the doors for competitive suppliers to offer lower rates than a BGE commercial customer can expect to receive from the Standard Offer Service. The BGE Standard Offer Service (SOS) is the alternative electricity supplier chosen by BGE that provides standard services to those who have not selected a competitive supplier. The commercial rates provided by the SOS can be set up to a year in advance so BGE customers looking to lock in a fixed rate from a competitive supplier can be shown guaranteed savings.

Current market conditions show a favorable percentage of savings for Maryland electricity commercial customers electing to select a competitive supplier. Depending on load factor and other variables a typical business can expect to save 8-20%. Fixed rate options are often the best choice for companies looking to minimize risk. Some suppliers will offer a low introductory variable rate only to increase the rate the following month. It is important to compare and review the terms and conditions carefully before selecting a competitive supplier. A good database to start comparing supplier’s rates and terms for BGE commercial customers is Electricrate.com.

Deregulating the electricity market in Maryland is proving to be a cost effective way for businesses to save money and approve their bottom line. Electricity rates have a history of being volatile so taking advantage of these low rates while market conditions are favorable may be a wise choice. The number of commercial accounts switching from the SOS to a competitive supplier is expected to grow in the coming years as businesses become more aware of energy choice.

Compare competitive offers below by selecting your utility and monthly electric bill amount. All offers are provided by electricity suppliers who have been licensed by the Maryland Public Utility Commission.

Consumer energy price comparison site Electricrate.com is urging more than 700,000 residential customers living in central Pennsylvania to take five minutes to shop and compare competitive electricity rates. These customers are facing an electricity generation rate increase of 14.17% by PP&L, the Pennsylvania electric utility who delivers power to the central part of the state in including the major cities of Harrisburg and Lancaster. The higher prices will effect customers who are on the PP&L default rate for generation electricity, meaning that they have not entered into agreements with competitive PP&L electricity suppliers.

While 43% of PP&L residential customers are purchasing power from a competitive supplier, the remaining have not taken the time to do so resulting them to pay a high default rate through the utility. Many of these customers are surprised to learn that they can easily lower their monthly PP&L electric bill by simply choosing a competitive supplier who is offering a low fixed electricity rate. Selecting a rate plan by a competitive supplier causes the contractual rate to replace the PP&L default rate. When a customer chooses a competitive rate plan that is lower than the default plan, the PP&L electric bill is lowered as a result. ElectricRate.com currently has nine rate plans that are offering double digit percentage savings against the default price.

The price jump went into effect on June 1, 2017 and will start to show up for the first time on the PP&L electric bill in late July and early August. Customers can avoid the price increase, and even bring the price they pay for power below to what PP&L was charging in May by comparing PP&L competitive electricity prices.

Residential PSEG electricity customers who are on the basic generation service rate are getting hit with a summer rate increase. The basic generation service rate is the price for electricity power supply that customers pay who have not chosen to buy their power from a competitive supplier. As an energy choice state New Jersey residents have the ability to shop the market for competitive electricity rates the same way they can shop for phone service or television content providers. Customers who do not participate in the market by shopping and buying their power from a competitive supplier pay the basic generation service rate offered by PSEG.

PSEG updates their basic generation service rates twice a year on June 1 and October 1. The PSEG basic generation service rate, which serves as a default electricity price, is determined through three auctions that take place in the previous three years of the current basic generation service rate. Competitive suppliers are often able to offer more favorable pricing than the default price, offering customer an opportunity to pay less money on their PSEG electric bill. The new PSEG basic generation service price will have residential customers paying a maximum of $0.131959 per KWH for customers who consumer above 600 KWh in a month. Meanwhile, competitive New Jersey electricity suppliers are offering fixed rates in the 10 and 11 cent range.

As of April 2017 PSEG has reported that only 12% of their residential customers have switched off of the default basic generation service price and onto a competitive plan. The new summer rate increase for 2017 could provide an incentive for the more than 1.6 million residential customers, currently on the default plan, to shop for the first time. Statewide New Jersey energy choice has resulted in 505,111 residential shoppers and 151,805 commercial and industrial customers. Despite the low residential switch percentage competitive New Jersey suppliers remain optimistic at their chances of acquiring new customers. PSEG customers have more than a dozen electricity companies to purchase their power supply from, many of which are offering fixed rates below the default price. Below are rates offered by suppliers who are licensed by the New Jersey Board of Public Utilities.

Residential customers in the PPL service area who are not receiving their power supply from a competitive supplier will be hit with a large price hike on June 1, 2017. The increase will manifest on the price to compare rate which encompasses the generation and transmission components of the bill. Customers who have entered into electricity contracts with competitive Pennsylvania electricity suppliers will not be effected by the change.

PPL Energy is required by law, through the Pennsylvania Energy Choice and Competition Act, to provide default service for the generation and transmission charges on the PPL electric bill for those customers who do not shop for competitive rates. The default price, often referred to as the ‘Price to Compare’ is calculated through an auction process whereby competitive suppliers bid to service a portion of the default paying customers. For the past two years, and foreseeable future, PPL enacts a change to the price to compare rate twice a year. Prior to that the change was made every three months.

Over the last six months default paying customers have paid a rate of $0.07439 for the price to compare rate. On June 1 that price will rise to $0.08493, representing a 14.17% increase on the bill for PPL customers who continue on the default rate structure. This will be the first price increase since March 1, 2015. The last four price changes have been rate decreases. Despite the downward price trend over the last two years, customers were still able to find significant savings off of the price to compare rate in the competitive market; licensed competitive suppliers were able to offer fixed rates that were lower than the PPL default rate. Customers who have become used to seeing a decreasing electric bill might be surprised when they get their PPL electric bills in July showing a large increase.

Though the competitive market has presented savings to customers over the last several years, the upcoming price hike will present an even greater opportunity for customers to save money through Pennsylvania electricity choice. As of April 2017 PPL reported that 57% of their over 1.2 million residential customers were still on the default price to compare rate. These customers have the opportunity to avoid the upcoming rate increase and even lower their existing rate by taking the time to shop the market for competitive offers. In addition, by locking in a long term fixed rate customers may be further protecting themselves from a future PPL rate increase that could occur in the next rate change happens later this year in December.

While energy choice laws have been in effect for almost a decade in the New York City area, an alarming number of consumers are still unaware of their option to shop for competitive electricity and natural gas rates. The majority of citizens are still under the belief that they have to pay the energy rates offered by Con Edison, the local utility company. In truth, New York City consumers only have to pay the regulated delivery charges for energy to Con Edison, the supply component of their energy bills is open to customer choice. New York energy choice laws changed Con Edison from being the sole energy company in the New York City area, responsible for the delivery and generation supply of the energy, to only being responsible for the delivery and maintenance of the energy lines and wires.

On top of their delivery duties, Con Edison also provides a default rate for electricity supply to customers who do not choose to initiate in electricity shopping activity. Con Edison customers can find attractive rate plans offered by competitive electricity companies that will replace the default rate. The competitive electricity companies in New York are referred to as ESCOs, which stands for energy supply companies. ESCOs can offer customers rate plans that differentiate from the “one size fits all” default plan offered by Con Edison.

The Con Edison default electricity rate changes each month as it is variable and tied to market fluctuations. This volatility does not allow for ESCOs to market exact savings with their rate offerings as they are able to do in other state markets. In the neighboring states of New Jersey an Pennsylvania, utilities have default rates that last anywhere from three to eight months at a time. Electricity companies there can offer rates below the default rates and consumers can calculate exact savings. While this isn’t the exact case in New York, consumers can still lock in low Con Edison rates that are fixed and will offer price certainty during the term of the contract.

In addition to price, Con Edison customers can shop for plans that offer renewable energy as the source of power. ESCOs can purchase power generated from wind farms and sell it to retail customers so that there money is supporting renewable resources.

Consumers have a variety of options when shopping for competitive electricity in New York City. Getting this idea out has been difficult as people have become used to accepting whatever rate Con Edison imposes. The last migration data in New York was released at the end of 2015 which showed that only 23.6% of residential customers where purchasing their power from a competitive ESCO. Below are competitive offers from ESCOs who have been approved to sell power in the Con Edison service area.

Small businesses in central Pennsylvania serviced by PP&L who are still on the utility default “price to compare” rate have an opportunity to reduce their electric bill through the Pennsylvania electricity choice program. Electricity choice allows consumers to shop the market and purchase their power supply from an alternative supplier who may be able to offer a price lower than the utility supply rate. As a result of a recent utility default rate increase combined with a steady low wholesale energy market, savings are available for PPL small businesses.

PPL customers have experienced a true competitive market since the beginning of 2010 when decade long low capped rates with the utilities expired. The rate expirations caused alternative suppliers to flood the market as they were able to offer competitive prices that yielded quick savings for customers on their PPL electric bills. As is the case with most new electricity markets, commercial and industrial clients were quicker to act on the benefits of the new Pennsylvania electricity market structures as opposed to the residential customer pool, who were less familiar with the new laws. However, after seven years of electricity choice in Pennsylvania, both customer and energy supplier participation has grown.

Among the seven largest electricity utilities in Pennsylvania, PPL leads in customer participation rate for both residential and business customers. As of December 2016 the utility has 56.6% of their commercial customers purchasing power from a competitive electricity supplier. The commercial customers who have shopped and entered into a contract with a supplier account for 89.3% of the commercial usage amount. The largest users have been the quickest to adopt and learn about the benefits of electricity choice. However, small businesses can experience the same savings percentage if they take advantage and shop for a lower commercial electricity price to replace the PPL price to compare rate for the commercial customer class.

Competitive suppliers are able to offer lower prices to PPL businesses when the wholesale electricity market yields prices that are lower than the default rate. While the default rate is determined through an auction process months before the time they actually go into effect, competitive suppliers can offer customers fixed rate contracts based on wholesale prices at the current level. Over the last seven years there have been times when suppliers could not offer rates lower than the utility default rate, however for the majority of the time savings have been available. When savings are available it presents an easy and stress free way for business owners to lower one of their largest operating costs.

Competitive suppliers offer different fixed electric prices to customers based on their power consumption. Below customers can choose the amount of their monthly electric bill to see different fixed electric prices available.

Massachusetts residential electricity customers who receive their electric bill from National Grid and have not switched off of the default basic service rate will see an increase on their electric bills in December and the first half of 2017. The basic service rate charge represents the component of the National Grid electric bill that encompasses electricity generation supply and transmission costs. In November the rate catapulted to a 21% increase from what it had previously been since May, taking the price to $0.09787 per KWh. The increase can be avoided if customers switch off of the basic service rate and onto a competitive rate plan through Massachusetts electricity choice.

Electricity choice in the state has largely been a success with consumers currently having dozens of rate options to choose. As of October 2016, roughly 40% of National Grid’s 1,016,242 residential customers were purchasing their power from a competitive supplier. Customers who are participating in electricity choice by shopping for their power supplier will not be effected by the recent basic service rate change. The remaining 613,351 customers who remain on the default plan can simply lower their National Grid electric bills by finding a lower electricity rate plan.

Over the last three years the basic service rate has experienced wide fluctuations. Besides near term savings, competitive electricity rate plans that are fixed also provide price stability for consumers who are looking to better manage their home expenses. Many National Grid customers will not be prepared for the 21% rate increase that they will see for the first time on their December 2016 electric bills. Locking in a low rate will not only save money over the next few months, but it also can provide even greater savings in the second half of next year. The new basic service rate of $0.09787 is scheduled to stay in affect through the end of April. As of now it is unknown what the rate will be for the rest of 2017, though recent energy market trends reveal that it is unlikely they will come back down below nine cents.

Below is a list of some of the best electricity rate offers for National Grid customers in Massachusetts. All offers are updated every day, and are offered by suppliers who have been licensed by the state of Massachusetts.

Substantial savings are available for Rhode Island residential electricity customers who receive their electric bill from National Grid and are still on the default price to compare rate.  Rhode Island electricity choice provides consumers the option to either pay for their power supply directly to their utility, or to purchase it from an alternative competitive supplier.  If a competitive Rhode Island electricity supplier is chosen, the rate that the supplier and customer agree to replaces the utility default price.

National Grid, the largest electric utility in Rhode Island, is currently charging $0.08179 for their default price to compare rate.  By taking the time to shop, customers can find alternative Rhode Island electricity rates that are well below the default National Grid price.  The current Rhode Island National Grid default rate will stay in effect through the end of March 2017.  Based on historical rate information, it is likely the default rate will increase in April as the Rhode Island National Grid default price has not been below $0.08 since December 2013.

Shopping for lower Rhode Island electricity rates is an easy way for consumers to lower their electricity bill without having to invest money in new equipment or undergo expensive and time consuming energy efficiency projects.  The new competitive electricity price simply replaces the National Grid default rate, with the difference producing a lower electricity bill.  Rhode Island National Grid continues to control the power lines and wires and deliver power to homes and businesses through the state through regulated distribution charges managed by the state.  While the purchase of power supply has been deregulated and open to customer choice, the delivery of that power remains regulated.  This structuring keeps the power line reliability constant while providing a dynamic market for consumers to shop and locate a rate structure that best fits demands.

Currently several competitive offers exist in Rhode Island that are below the National Grid price to compare default rate.

Jersey Central Power & Light, a First Energy Corporation company, implemented a rate change to their basic generation service (BGS) charge on October 1, 2016 that will stay in effect until the end of May next year. The BGS price is the price for electricity supply charged to all JCPL residential customers who have not switched to a competitive supplier. The rate change will effect smaller homes and apartments the most.

Throughout the summer JCPL residential customers were charged $0.094604 per KWh for the first 600 KWh that they consumed, and then $0.103862 for all KWh above 600. Starting on October 1, 2016 customers on the BGS plan will pay one flat rate of $0.102863 for all electricity consumption. This means that it will be the smaller home customers who see the biggest increase on their electric bills. For customers who use below 600 KWh a month, their JCPL electric bills will rise by 13% if they decide to stay on the BGS service rate plan.

Many competitive rate offers exist that are in the $0.09 and even $0.08 range. The discrepancy between competitive offers and the default BGS rate is providing a incentive for customers to switch to a competitive JCPL electricity supplier. Choosing to purchase power from a competitive supplier results in the new supplier’s rate to replace the JCPL BGS charge, which produces real savings on the electric bill. The New Jersey Board of Public Utilities estimates that 199,269 of JCPL’s 984,646 residential customers have switched to a competitive electricity supplier. The switch numbers have slowly but steadily risen over the last year are expected to continue to rise as more people become aware of electricity choice in the JCPL service area.

On October 1, 2016 the New Jersey Public Service Electric & Gas Company (PSEG) enacted a scheduled change to their basic generation service rate charged to residential customers. The rate change will effect roughly 1.7 million residential electricity customers in the state of New Jersey who are not purchasing their power from an alternative supplier. Basic generation service represents the costs for the power supply portion of the bill, which is also the section of the bill that PSEG customers have the option to shop around and search for a better price.

As of August 2016, the New Jersey Board of Public Utilities reported that 185,973 PSEG residential customers, 10.4% of the residential customer base, had elected to purchase their power from an alternative supplier. For these customers, the rate change that took place on October 1 will not effect their monthly electric bill. Instead these customers will pay whatever rate they purchased from the specific alternative PSEG supplier for whom they entered into a contract with.

The remaining 89.6% of PSEG residential customers who are paying the high basic generation service rate of $0.125982 for their power supply have an opportunity to lower their electricity costs by finding a more competitive offer from an alternative supplier. The new PSEG rates will stay in effect until May 31, 2017. On June 1, 2017 the rates will increase even more to $0.137684 for some consumers. With no rate relief in sight from PSEG, the time to shop for competitive PSEG residential rates is as beneficial for consumers as it ever has been. Competitive rate offers below show the amount of savings versus the current PSEG basic generation service default price.