You are able to choose from which company you purchase your electricity supply for your home or business. There are several options to consider when making your choice. The Maryland Public Service Commission (PSC) wants you to understand your choices when you are shopping for electricity supply. Whether your concern is getting the lowest price, a stable price over time, reducing your impact on the environment with green energy options, or finding other value-added services, the choice is yours. NEW: Important information about new retail supply rules for energy assistance recipients!
You should always review and understand the terms and conditions of a retail electricity supplier’s contract prior to signing the agreement; it is a legally binding contract. Watch these videos on our YouTube channel to learn more about energy choice and how to handle interactions with supplier agents. In this video, consumer reporter Mallory Sofastaii, of WMAR-TV/ABC 2 has some great tips on what you should know before choosing an energy supplier.
Before you sign a contract, understand the length of the commitment you are making. Contract terms range from one month to multiple years.
Make sure you understand what happens at the end of the contract period with respect to the pricing of your electricity supply. Your contract must contain this information, but ask the retail electricity supplier if you are unsure.
If you decide to cancel your contract before the end of its term, you may be subject to early cancellation fees imposed by some retail electricity suppliers.
Fixed term contracts often include early cancellation fees because some retail electricity suppliers purchase the electricity supply needed to fulfill the contract with the customer at the time the customer signs the contract. Fixed-term contracts that do not include early cancellation penalties may allow the retail electricity supplier to cancel the contract early and leave the customer before the contract end date.
Review and understand the terms and conditions of your existing contract for electricity supply and the terms and conditions of a new retail electricity supplier’s contract prior to signing the agreement.
Find out if a retail electricity supplier offers fixed, variable, or indexed electricity prices. The price offered is for electricity supply only. Your utility’s delivery charges will appear separately on your utility bill.
As you shop for electricity, find out how and for what reasons your electricity supply price can change, and select a plan that best fits your needs.
If you want a plan that includes renewable energy (exceeding current state requirements), check the retail electricity supplier offers to see how much of the plan’s electricity is generated from various renewable resources.