Electricity Supplier Options Grow in Maryland

The number of competitive power suppliers continues to increase in Maryland. Multiple new providers have entered the state’s competitive electricity market, and consumers are responding as evidenced by increased switching rates.
 
Direct Energy is the latest competitive supplier to expand competitive options for consumers. The retail energy provider announced it has entered the Baltimore Gas & Electric territory, comprised of more than 1 million residential customers, in June. Direct also announced it is entering the Allegheny Power and Delmarva Power & Light territories, with their combined 400,000 residential customers. Customers in these regions will be offered a variable rate plan 5 percent below their utility’s standard offer rate.
 
This new entrant follows the recent expansion of Washington Gas into the Maryland electricity market, and brings to eleven the number of competitive electricity suppliers approved by state regulators.
 
Moderate growth was also seen in power shopping across all classes of customers in Maryland, according to recently published data from March 2010. Retail power shopping increased to nearly 9 percent of all competitive accounts, and nearly 11,000 new residential accounts received their power from a competitive supplier. Overall, 41 percent of the total peak load statewide was served by competitive marketers.
 
The growth in Maryland’s competitive market is encouraging for consumers and strengthens the economy. Consumers have expressed their support for competition in the state, and COMPETE congratulates state policymakers for allowing their well-structured competitive market to prosper.
 

Joel Malina | July 30, 2010