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March 23, 2009

Electricity shopping, again

From Saturday's column:

Shopping for household energy has revived in Maryland, thanks to a drop in wholesale prices, frustration about BGE's winter heating bills and worries about even higher electricity prices to come.

Residential users who dump BGE's or Pepco's standard electricity package could save $20 a month this summer by buying energy instead from merchants such as Washington Gas Energy Services or a program being rolled out by several chambers of commerce. Natural gas prices have plunged, too. (I'll write more about them in Wednesday's paper.)

The electricity savings aren't huge, but there's no reason not to take them. Until policymakers fix flawed wholesale markets and increase Central Maryland's kilowatt supply, it's at least temporary self-help. There has also never been a better time to buy nonpolluting, wind-generated electricity, which has become cheaper than BGE's standard price for the first time.

BGE's standard price will be 12.7 cents/kilowatt-hour this summer. (Generation & cross-country transmission. Local distribution is extra.)

WGES is offering 10.8 cents for one to three years.

Dominion Retail is offering 10.75 cents to the end of this year.

Clean Currents is offering 100 percent clean wind energy for 11.5 cents for 1 year and 11.8 cents for two years.

Posted by Jay Hancock at 8:25 AM | | Comments (5)
Categories: BGE/electricity
        

Comments

Thanks for the info. Where can you find the rates for after May 31, 2009? I went to their website and the rates I found (in the PSC filings) only go through 5/31/09. I just want to know what the rates will be after the summer before signing up with WGES.

Thanks for the info. Where can you find the rates for after May 31, 2009? I went to their website and the rates I found (in the PSC filings) only go through 5/31/09. I just want to know what the rates will be after the summer before signing up with WGES.

Is there a web site where we can track kilowatt rates for power available in Maryland?

JM & Huh: Here are some links to Web sites with BGE's newest rates and menus of vendors.

http://weblogs.baltimoresun.com/business/hancock/blog/2009/03/electricity_shopping_links.html

Jay,

Thanks for keeping us common folks up-to-date on electricity rates. It's practically impossible for the average person on the street to make informed decisions regarding rate projections. With that in mind and the rate "decrease" yesterday (April 23) from the most recent auction, do you still believe that the three year deal from Washington Gas at 10.8 cents per kilowatt is a good buy?

Roger

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Wednesdays and Fridays.
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