Looking for the best electricity rates in Maryland: Potomac Edison utility? Well Look no further. In this post I'll cover the 3 Best Electric Supply Companies that you can currently go with for your electric supply in Maryland: Potomac Edison.
Click the links below if your looking for another Maryland utility besides Potomac Edison.
Best Electricity Rates in Maryland: BGE as of November 2013
Best Electricity Rates in Maryland: PEPCO as of November 2013
Best Electricity Rates in Maryland: Delmarva as of November 2013
Best Electricity Rates in Maryland: SMECO as of November 2013
For the best electricity rates in Maryland for business click here
A quick disclaimer. I obtain my pricing information from the Maryland Office of People Counsel. THE OPC provides this information as a guide only. They have tried to gather complete information, but cannot guarantee its accuracy. See the Public Service Commission for company license information. THESE OFFERS AND PRICES MAY CHANGE AT ANY TIME Always contact the electricity supplier directly to obtain the current price offers and be certain to understand all contract terms and conditions before signing.
I have found Potomac Edison f/k/a Allegheny Power to be one of the most difficult utilities to understand. It seems like no knows how to figure out their bill including Potomac Edison themselves. Let me explain. The price to compare in Potomac Edison is comprised of 3 charges; Electric Supply Charge, Transmission Charge and the Energy Cost Adjustment.
To find these charges you'll have to search deep withing Potomac Edison's 183 page long Retail Tariff "Book" which you can take a look at here.
https://www.firstenergycorp.com/content/dam/customer/Customer%20Choice/Files/maryland/tariffs/PotomacEdisonRetailTariff.pdf
*Hint the page for residential rates is page 74.
Here you can plainly see:
TRANSMISSION CHARGE
Energy Charge
All kilowatt-hours................................................................................ $0.00396 per kilowatt-hour
ELECTRIC SUPPLY CHARGE
All kilowatt-hours................................................................................ $0.05241 per kilowatt-hour
Ok so lets add those up. It looks like the current rate to compare would be 5.637¢ Right? In fact that's what Potomac Edison SAYS is the rate to compare as seen in this link here.
https://www.firstenergycorp.com/customer_choice/maryland/standard_offer_price.html
And they even say that includes the energy cost adjustment.
But wait...
We never added that in.
After doing a little more digging I came across this.
https://www.firstenergycorp.com/content/dam/customer/Customer%20Choice/Files/maryland/tariffs/PotomacEdisonaceca.pdf
This is the Energy Cost Adjustment rate schedule. And apparently there is an additional $0.00393 charge.
So the actual rate to compare is 6.03¢
I'm sure this wasn't an intentional mistake, as the way the rate is determined is a bit complicated. All that being said don't be mislead and know that the true rate to compare is 6.03¢
So any ways lets see which competitive supply company has the best rates in Maryland: Potomac Edison
The 3 Best Electricity Rates in Maryland: Potomac Edison are ...
At first glance it looks like First Energy Solutions is the most obvious choice, since it is the lowest. But is the lowest always the best choice? Maybe. Maybe not. After looking at several other utilities who have filled for their summer rates, you'll be shocked to find that the rates are going down this summer. Since I have been in this industry, rates have always gone up in the summer. That being said natural gas prices are starting to climb up too.
http://newsmanager.commpartners.com/wges/print/2013-11-22/index.html
And with increased natural gas prices, increased electric rates aren't far behind. So its really hard to well the prices are going to be set at in the summer time. Potomac Edison is scheduled to set their pricing in January 2014. Honestly with January coming up so close it would make sense for most consumers to wait and see what the new rates are going to be, before locking into a year long deal with a cancellation fee. Hope this helps.
HAPPY THANKSGIVING!!!
Kevin Cheung
P.S. If you would like to sign up for WGES or Direct Energy anyways go ahead click on either.
Best Electricity Rates in Maryland: BGE as of November 2013
Best Electricity Rates in Maryland: PEPCO as of November 2013
Best Electricity Rates in Maryland: Delmarva as of November 2013
Best Electricity Rates in Maryland: SMECO as of November 2013
For the best electricity rates in Maryland for business click here
A quick disclaimer. I obtain my pricing information from the Maryland Office of People Counsel. THE OPC provides this information as a guide only. They have tried to gather complete information, but cannot guarantee its accuracy. See the Public Service Commission for company license information. THESE OFFERS AND PRICES MAY CHANGE AT ANY TIME Always contact the electricity supplier directly to obtain the current price offers and be certain to understand all contract terms and conditions before signing.
I have found Potomac Edison f/k/a Allegheny Power to be one of the most difficult utilities to understand. It seems like no knows how to figure out their bill including Potomac Edison themselves. Let me explain. The price to compare in Potomac Edison is comprised of 3 charges; Electric Supply Charge, Transmission Charge and the Energy Cost Adjustment.
To find these charges you'll have to search deep withing Potomac Edison's 183 page long Retail Tariff "Book" which you can take a look at here.
https://www.firstenergycorp.com/content/dam/customer/Customer%20Choice/Files/maryland/tariffs/PotomacEdisonRetailTariff.pdf
*Hint the page for residential rates is page 74.
Here you can plainly see:
TRANSMISSION CHARGE
Energy Charge
All kilowatt-hours................................................................................ $0.00396 per kilowatt-hour
ELECTRIC SUPPLY CHARGE
All kilowatt-hours................................................................................ $0.05241 per kilowatt-hour
Ok so lets add those up. It looks like the current rate to compare would be 5.637¢ Right? In fact that's what Potomac Edison SAYS is the rate to compare as seen in this link here.
https://www.firstenergycorp.com/customer_choice/maryland/standard_offer_price.html
And they even say that includes the energy cost adjustment.
But wait...
We never added that in.
After doing a little more digging I came across this.
https://www.firstenergycorp.com/content/dam/customer/Customer%20Choice/Files/maryland/tariffs/PotomacEdisonaceca.pdf
This is the Energy Cost Adjustment rate schedule. And apparently there is an additional $0.00393 charge.
So the actual rate to compare is 6.03¢
I'm sure this wasn't an intentional mistake, as the way the rate is determined is a bit complicated. All that being said don't be mislead and know that the true rate to compare is 6.03¢
So any ways lets see which competitive supply company has the best rates in Maryland: Potomac Edison
The 3 Best Electricity Rates in Maryland: Potomac Edison are ...
- First Energy Solutions at 5.89¢ / kwh (12 month rate with a $100 Cancellation Fee)
- Washington Gas Energy Services at 5.99¢ / kwh (12 month fixed rate, $150 Cancellation Fee)
- Direct Energy at 6.19¢ / kwh (12 Month Fixed rate, No Cancellation Fee)
At first glance it looks like First Energy Solutions is the most obvious choice, since it is the lowest. But is the lowest always the best choice? Maybe. Maybe not. After looking at several other utilities who have filled for their summer rates, you'll be shocked to find that the rates are going down this summer. Since I have been in this industry, rates have always gone up in the summer. That being said natural gas prices are starting to climb up too.
http://newsmanager.commpartners.com/wges/print/2013-11-22/index.html
And with increased natural gas prices, increased electric rates aren't far behind. So its really hard to well the prices are going to be set at in the summer time. Potomac Edison is scheduled to set their pricing in January 2014. Honestly with January coming up so close it would make sense for most consumers to wait and see what the new rates are going to be, before locking into a year long deal with a cancellation fee. Hope this helps.
HAPPY THANKSGIVING!!!
Kevin Cheung
P.S. If you would like to sign up for WGES or Direct Energy anyways go ahead click on either.