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BGE’s Electric Supply Rates to Increase Following Distribution Rate Hike
Electric rates for non-shopping Baltimore Gas & Electric (BGE) customers are scheduled to rise by about $6 per month beginning in June. Customers that have already switched to a retail electricity provider for their electric supply will not be affected.
Currently, BGE’s Price-to-Compare (the average residential supply rate) is around 8 cents per kilowatt hour (kWh). The new rate, which will last from June 2013 to May 2014, will be 10.474 cents/kWh. Customers currently shopping around for an electric provider with lower rates should look for plans that have rates below the 10.474 cent/kWh mark.
In late February, the Maryland Public Service Commission approved a distribution rate hike for both BGE’s electric and gas services in order to generate $113 million per year in an effort to “promote safety and reliability” for electric and natural gas services through state-mandated safety and reliability projects as well as increased infrastructure spending. The hike increased the average residential customer’s bill by about 2.6% for electricity and 4.25% for gas.
According to the Maryland Public Service Commission, customers that haven’t already chosen a retail electricity provider will see their bills increase by almost 10% from prior to the two rate increases or about $13.50 more.
While BGE customers cannot avoid the distribution rate increase, they can avoid higher bills by shopping around for a retail electricity provider that offers a lower supply rate than BGE.