A solid way to get started in the shopping process is to compare a main line monopoly electric company in Maryland that has been broken up through the deregulation process with a new competitor to the market. Spark Energy has entered Maryland after becoming a large successful electricity supplier in Texas and is a good alternate electric company to compare prices against big brand energy companies like BG&E and Pepco.
When contacting Spark Energy you will want to take down their fixed and variable electricity prices for several different terms. Once you have a list of their rates for that day you will want to verify what the prices include. Here are a few questions to go over with Spark Energy Maryland.
Do your fixed rates include all fees and charges such as transmission, distribution, and generation charges?
Do your fixed rates include government taxes and fees as well as any ancillary charges?
What variable costs are a part of my fixed electric rate? (Meaning what may cause my “fixed rate” to change in price?
Once you have these questions answered you will want to write down the different variations of the price of the Spark electricity rate depending on what is and is not included.
With this rate information go ahead and call up BG&E or Pepco and ask them to quote you on a fixed electric rate for several different rate terms. Typically a good popular fixed rate term in Maryland will be anywhere from 6 months out to 24 months fixed.
With a fixed electricity rate in MD you will stay on that rate for the term of the contract until the term expires. Once your MD electricity rate expires you will need to shop and renew on a new rate plan or assume a variable price.
Once you have BG&E on the phone ask them similar questions that you asked Spark Energy as well as get multiple rate plan prices.
Attempt to write down the rate plans and prices in a chart that shows Spark Energy and BG&E side by side in an easy to follow comparison.
This is pretty much all you have to do to begin your research into a competitive Maryland electricity rate.
If you would like an energy consulting company like ours to do a more in depth commercial or industrial electricity reverse auction than we can do a more advanced version of what we explained above.
Our Maryland electricity reverse auction involves having multiple Maryland electric companies compete to win your business. We have each energy supplier in MD submit their best bid for your account for multiple fixed rate terms.
For larger companies that want spot market, heat rate, and or natural gas components priced and locked in separately we can assist in the reverse auction incorporating these more advanced quotes as well.
For most moderately sized businesses a fixed electric rate plan will be your best option when using our reverse auction.
Once we have facilitated bidding down the prices that come in from multiple MD electricity suppliers we put a detailed electricity comparison proposal together.
We send this proposal over and have our energy consultant call you to go over the details.
Our process allows you to get a cheaper Maryland electricity rate for your business than what you could achieve on your own going through the same process.
We are able to achieve a better MD electric rate because of our relationships we have with multiple Maryland electric providers.
These energy companies know they must shave off as much retail margin as possible to win the bid as we have multiple competing providers competing on each and every reverse auction we send through.
Our fee is paid by the Maryland electric company and so there is no obligation to go through this process and if anything you will be educated through the process even if you decide to stay with your current electric company.
To begin please provide your name and email in the box above.