Report: Maryland Consumers Could Have Saved Over $39 Million In October By Shopping For Retail Electric Supplier

179 Offers From Suppliers Beat Utility Price To Compare

December 5, 2023

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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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The Retail Energy Supply Association (RESA) released a monthly energy market savings report, prepared by a third-party consultant, which RESA said shows that Maryland consumers could have saved more than $39 million ($39,390,995) in October 2023 by shopping for the best deal for electricity.

RESA said that the potential savings included $19 million in the BGE service area and $13 million at Pepco-MD

RESA said that, in October, 179 offers from competitive suppliers in Maryland were less than the price to compare (PTC).

The report comes as several leading Maryland lawmakers, including Del. Brian Crosby (D), vice chair of the House Economic Matters Committee, and Senate President Pro Tem Malcolm Augustine (D), have expressed an intent to introduce retail market reforms in the next legislative session, although specific proposals have not yet been released.

As previously reported, the PSC is also evaluating a host of retail market reforms

"The large surge in offers below the PTC reflects a robust and competitive market, benefitting consumers and fostering a climate of choice," said Frank Caliva, RESA’s national spokesperson.

"The Maryland Market Saving Report highlights the importance of educating consumers to shop for electricity and take advantage of plans from retail suppliers that can help save money on their energy bills." RESA said

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