While rates will increase for Baltimore Gas and Electric customers the increase is significantly less than what the company originally proposed.
The final decision regarding the increase was made in the beginning of December and the higher rates have already gone into effect.
The electricity rate increase will affect residential electricity consumers while business customers will not be effected.
In order to avoid the Baltimore Gas and Electric rate increase residential customers should immediately compare the company’s rate to other Maryland utility companies serving the same area by contacting a consultant at Electric Rates.
- It is the delivery prices that residential customers will be paying more for which make up approximately 25% of residential customers’ bills.
- The Baltimore Gas and Electric rate increase will produce approximately $30 million in revenue.
- The increase amount that Baltimore Gas and Electric has hoped for was $47 million.
- Residential customers served by BG & E will see their yearly electricity costs increase by approximately $16.
Baltimore Gas and Electric serves a large number of residential electricity consumers in Maryland so the rate increase will be affecting many individuals.
There will likely be much aggravation regarding the increase but it definitely could be worse and is in some other states with deregulated utility markets.
In addition it is believed that electricity rates will fall again by the time June 2011 rolls around although there is no word as to how much they are expected to decrease at that time.
In order to get around the Baltimore Gas and Electric rate hike residential customers being served by the company should shop around now for a company that charges a lower rate.
Customers who wish to compare rates the simplest and quickest way possible should contact Electric Rates at 1-903-245-4989 to speak to an Electric Rates comparison consultant.
The cost of living is high enough already without having to deal with periodic rate hikes from electricity suppliers.
Call Electric Rates and try to find a lower rate now before the hike kicks in.