Finding the Lowest 2024 PEPCO Electricity Rate
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Electricity customers in the PEPCO service area in Maryland are finding out that they can save money on their power bills by setting aside some time to shop for competitive rates. Energy comparison site such as ElectricRate.com offer PEPCO consumers the ability to compare multiple electricity companies is a quick and efficient manner.
Finding the lowest competitive PEPCO electricity rate will allow customers to replace the default PEPCO rate with the lower price and save money on their monthly Maryland electric bill. Currently only 13.9% of the residential customers in the PEPCO service area are on a competitive electricity rate plan. More than 86% of PEPCO residential customers can lower their electric bills if they take five minutes to find a lower rate plan offered by a licensed Maryland electricity supplier.
2024 PEPCO Price to Compare
PEPCO, who serves over 550,475 residential customers and 51,424 businesses throughout the state of Maryland, is a regulated electricity utility company in the state. Through the Maryland electric choice act, PEPCO in in charge of delivering safe and reliable power to consumers that fall within their regulated service area. Customers who do not shop for a competitive rate pay a default rate which is determined through a procurement process administered by PEPCO for competitive power companies looking to serve a portion of default paying customers.
In 2024, the SOS price to compare rate in PEPCO Maryland is 12.01¢ per kWh from Janaury 1, 2024 through May 31, 2024. Information for what the SOS rate will be for the rest of the year will be released sometime in April or May of 2024.
PEPCO MD Price to Compare vs ElectricRate Graph by ElectricRate
The official term for the electric default rate in Maryland is the Standard Offer Service (SOS) rate, though it is also commonly referred to as the “price to compare”. Consumers who are able to purchase their power from a competitive energy company offering an electric rate lower than the PEPCO SOS rate will save money on their monthly PEPCO electric bill.
Lowest PEPCO MD Fixed Electric Rates
PEPCO MD Electric Rate Savings Potential by ElectricRate.com
While many first time electricity shoppers look for this instant savings gratification, it is also important to understand the price protection achieved by locking in a low fixed electric rate for one to three years.
Energy prices are extremely volatile and subject to change due to a number of world events including political, weather, and of course supply and demand of energy resources. In addition to saving money right away, many electricity shoppers are seeing the benefits of long term price protection.
Customers should avoid variable rate plans as these often have low teaser introduction prices, only to rise rapidly after that initial month. In addition, if your fixed rate plan expires and you do not enter into a new fixed rate contract, your competitive supplier will likely automatically put you on a variable rate plan. That variable rate will undoubtedly rise over time, and sometimes the increase can happen quite rapidly.
An effective contract expiration and renewal service can prevent your rate from getting away from you and assure that you are always on a low fixed PEPCO electric rate. All customers of ElectricRate.com are automatically enrolled in our renewal reminder service to prevent you from being placed on a variable electric rate that can explode in any given month.
4 Benefits of Using ElectricRate.com for PEPCO MD by Todd Yasbin
Lower PEPCO Electric Bills
While PEPCO customers can and should shop for competitive rate options, they will continue to receive their electric bill from PEPCO no matter which Maryland electricity supplier they choose. As a utility company, PEPCO remains in charge of the power lines and wires located within their service territory.
The PEPCO electric bill is divided into two main sections: the competitive electricity supply component, and the regulated delivery component which includes distribution charges.
When a PEPCO customer selects a competitive Maryland electricity plan, the rate on that plan replaces the PEPCO SOS default rate on the PEPCO electric bill. The customer will still receive only one electric bill from PEPCO, with the competitive supplier and the rate selected listed where the SOS default rate used to be displayed.
FAQ
Are PEPCO MD electric rates going up?
Who is the cheapest electric supplier in the PEPCO Maryland service area?
In 2024, electricrate.com has a list of the cheapest electricity suppliers available to PEPCO customers. The suppliers with the cheapest rates have been Constellation, Clearview Energy, and Direct Energy.
What is a good electricity rate for PEPCO MD customers?
Will PEPCO be mad at me for switching suppliers?
Will my power go out if I switch from PEPCO to a new supplier?
Todd Yasbin
Todd Yasbin is the founder of electricrate.com and current COO. He has been involved with deregulated electricity markets since 2003.
