Now more than ever, Maryland electricity consumers have a variety of ways to reduce their rising energy costs. If Maryland utilities default supply rate remains higher than competitive prices, as it has been for the past few years, the number of electricity shoppers in the area is expected to see a sharp increase.
WHAT EFFECT WILL NEW RULES HAVE ON MARYLAND RETAIL ELECTRIC PRICES?
Last year, Maryland Governor Larry Hogan vetoed a measure to expand the state’s renewable energy initiatives. This past February, the Maryland Senate overrode that decision, which will increase their renewable portfolio standard (RPS) from 20% to 25% by the year 2020. RPS is he amount of renewable sourced energy that is required to be placed on the Maryland electric grid. Previously, all Maryland electricity providers (both utilities and suppliers) needed to produce renewable energy credits for 15.9% of their supply, with a goal of getting to 20% by 2022. Now, utilities must reach 25% by 2020. The bill will also increase the solar requirement to 2.5% by 2020. This will create more incentives for new, clean energy.
While the direct affect RPS will have on consumer energy rates will not be known for some time, the basic fact of the matter is, when it comes to utility increases, it’s you, the consumer, that ALWAYS foots the bill.
This articles was originally posted at: https://naea.today/maryland-energy-consumers-catching/ on