Maryland energy rates
Residents of most states are obligated to accept energy services from their local utility company. If you live in Maryland, though, deregulation of the energy market means that you have the power to choose from the utility or from a variety of Maryland electric suppliers. It also means that Maryland electricity rates are available in several different types, allowing you to decide which makes the most sense for your household.
- Fixed-rate: A fixed-rate plan sets your rates for the length of the plan. Terms of 12, 24, and even 36 months may be available. Be aware that even though your electricity supply rates remain the same, taxes and government fees and utility delivery charges may vary.
- Variable-rate: If you are looking for a short-term plan, or you are willing to take the chance that rates may rise, a variable-rate plan could be right for you. Your rates could go up or down each month, depending on wholesale energy prices. You can exit these plans at any time.
- No deposit: If you have excellent credit, you may be able to get a traditional fixed-rate or variable-rate energy plan without a deposit. Otherwise, you may be interested in a no deposit plan, which typically requires prepayment each month like a prepaid cell phone. These prepaid plans generally come with higher electricity-supply rates.
- Green energy plans: A green energy plan is a great way to reduce your carbon footprint, and depending on the supplier, they now can come at rates that are similar or only slightly higher than traditional plans.