Most Maryland residential and commercial electricity customers to see decrease electric supply rates in 2017

BALTIMORE — The Maryland Public Service Commission, in Order No. 87833, has accepted semi-annual Standard Offer Service (SOS) bids for residential and small/medium commercial electricity customers served by Delmarva Power and Light (DPL), Baltimore Gas and Electric (BGE), Potomac Electric Power Company (Pepco) and Potomac Edison (PE).

 

The interim bill impact estimates, for the approximately 75% of residential customers using SOS service to purchase their electric supply, show an average annual decrease of $123 (-7.3%) for DPL, $103 (-6.5%) for Pepco, $85 (-4.6%) for BGE and an increase of $25 (1.7%) for PE for rates starting in June 2017. 2017-18 bill impacts will be finalized after the April 2017 bid cycle.

 

At the October 20, 2016 hearing for Cases 9056 and 9064, the Commission heard testimony from the staff and consultants on the impact on customer bills and the competitiveness of the bids after the SOS bidding held on October 17. These bid results cover the period from June 2017 through May 2018. At the same hearing, quarterly bids for mid- and large-sized commercial customers for the same utilities were also accepted. Commercial rates will impact bills in December 2016.

 

“Maryland electricity customers continue to reap the benefits of strong competition among SOS suppliers, a robust competitive retail supply market, lower natural gas prices and leading-edge energy efficiency programs,” said W. Kevin Hughes, Chairman of the Commission. “The latest bid results continue a downward trend in energy prices that we have seen over the last several years.”

 

Utility companies purchase SOS electricity from wholesale suppliers through a competitive bidding process overseen by the Commission. Customers who do not select a retail supplier are provided SOS service by their electric utility.

 

In Maryland, customers may switch to retail supply or to SOS to purchase their electric supply. Customers should review electricity price offerings on the Commission’s website to inform themselves about current retail contracts.  Residential and small commercial SOS bids occur twice a year, and contracts are awarded to the lowest bidders. Large commercial bids are received quarterly, on the same basis, for new rates that go into effect each March, June, September and December.

 

In accordance with Commission requirements, the utilities will post the electric supply auction results on their websites, along with a list of the winning bidders.

 

— Tori Leonard is communications director for the Maryland Public Service Commission.

You are encouraged to leave relevant comments but engaging in personal attacks, threats, online bullying or commercial spam will not be allowed. All comments should remain within the bounds of fair play and civility. (You can disagree with others courteously, without being disagreeable.) Feel free to express yourself but keep an open mind toward finding value in what others say. To report abuse or spam, click the X in the upper right corner of the comment box.

Facebook Comment