Silver Spring Electricity Rates
Contents
- 1 Silver Spring Electricity Rates
- 2 Silver Spring Utility Companies
- 3 Silver Spring Power Outage
- 4 Silver Spring Price to Compare
- 5 Understanding the Electric Bill
- 6 Silver Spring Renewable Energy
- 7 Energy Choice in Silver Spring
- 8 When Will I be Switched?
- 9 Is There an Early Cancellation Fee?
- 10 Are There Additional Fees?
- 11 When is a Good Time to Switch?
- 12 View by City
- 13 Clean Energy
- 14 Electricity Rates
The city of Silver Spring is located in a deregulated electricity market, meaning residents are allowed to shop for an alternate electric supplier and lower the supply rate on the electric bill. Silver Spring electricity rates are no longer held hostage by the utility companies. Maryland deregulated the electricity markets more than 20 years ago with the passage of the Electric Choice and Competition Act. This act opened the doors to outside energy suppliers to begin providing supply services and to compete with the utility companies for customers. With optimal market conditions, switching electric suppliers can save residents 10 to 35% off the electric bill.
Silver Spring, Maryland has a population of just over 80,000 people and is located a few miles north of Washington DC. The city has warm to hot summers and cold winters that can produce 14 inches of snowfall annually.
Silver Spring Utility Companies
Silver Spring is located in the PEPCO service area. PEPCO is the utility company responsible for maintaining the lines and wires that deliver electricity to homes and businesses in the city. If you’re planning on moving to Silver Spring, then you will need to set up an electricity account through the utility company. The delivery services represent the regulated section of the electric bill and residents will not be allowed to select another utility company.
Silver Spring Power Outage
If you changed electric suppliers and experience a power outage, then you will need to contact the utility company. PEPCO will be responsible for assuring the reliability of all power transmission to homes and businesses within its service area.
- PEPCO Customer Contact Number: 1-800-735-2258
Silver Spring Price to Compare
Along with delivering power to customers, PEPCO is required to provide a default rate for supply services to those that do not switch to an alternate electric supplier. The default rate is often referred to as the price to compare. The price to compare can be used to determine energy savings while shopping for a new energy supplier. If an electric supplier is providing a supply rate that is lower than the price to compare, then the customer will be saving money by switching to the new energy supplier.
Understanding the Electric Bill
If you’re new to energy choice, then it will be good to learn how the two main sections of the electric bill are separated and which one applies to energy savings. The two sections include the delivery charge and supply charge:
- Delivery Charge – The delivery charge represents the regulated section of the electric bill and is the cost charged to the customer by PEPCO for delivering the power. This charge is regulated by the Maryland Public Service Commission. Customers will not be able to change utility companies for the delivery service.
- Supply Charge – The supply charge represents the deregulated section of the electric bill and is the cost of generating the power the customer is estimated to use during a period. Customers in deregulated electricity markets can switch electric suppliers and lower the supply rate charged on the electric bill.
Silver Spring Renewable Energy
Deregulating the electricity market has helped bring a variety of energy plans into Maryland. More than ever before, energy suppliers are offering customers 100% renewable energy plans. These plans generate power from renewable energy sources such as wind, solar, and hydropower. These sources of power generation are often considered cleaner towards the environment compared to conventional sources such as oil and coal.
Energy Choice in Silver Spring
Take advantage of energy choice today and start shopping for a lower electric rate! Silver Spring electricity rates have become more competitive with the introduction of energy suppliers into the market. The utility’s default rate or “price to compare” is often not competitive allowing residents to save over 20% when switching electric suppliers.
There are a few common questions often asked by residents new to energy choice. We will cover these basic questions below. Energy plans may sometimes be confusing but they don’t have to be. Once you understand the basics, then you can begin to take advantage of Silver Spring electricity rates and start saving today.
When Will I be Switched?
Once you sign up for a new energy plan, the utility company will switch you over in the next available meter read. There are usually 30 days in a meter ready. Expect one or two billing cycles to happen before the new energy rate shows up on the bill.
Is There an Early Cancellation Fee?
Most energy plans will contain an early cancellation fee if the customer changes electric suppliers before the end of the term. Early cancellation fees can cost the customer up to $300 or more! Early cancellation fees will be listed in the plan’s terms and conditions.
Are There Additional Fees?
If you come across a super low rate, then chances are there are additional fees. The customer often won’t notice these fees until it’s too late. The most common fee is the monthly base fee which can range from five to $20 per month. All additional fees will be listed in the terms and conditions.
When is a Good Time to Switch?
The energy market can be extremely volatile. However, if you’re still on the utility’s default rate, chances are good you may be paying more than you have to. ElectricRateSelect.com can help you determine your energy savings by switching to an alternate electric supplier. If you need help determining energy savings by switching feel free to reach out today.