The cost of energy is going up.
Starting October 1, BGE customers will see higher prices on their bill.
While it may seem like BGE is increasing rates, the price increase is being caused by the wholesale energy prices going up.
“There are two primary components to everyone’s BGE bill – delivery and supply,” said Nick Alexopoulos, Senior Manager of communications at BGE.
The costs for delivering your energy are controlled by BGE and regulated by the public service commission — they’re not changing.
“Supply, the other component, is the cost of the actual gas and electricity. If you choose to get your supply from BGE, which is called standard offer service, we are not allowed to profit off that component. The cost is passed directly to the customer,” said Alexopoulos.
The cost per kilowatt hour is going from about 11 cents to 12 cents.
It seems like a small amount but for the average Marylander that’s about $12 a month.
Arbor, a company focused on finding people lower rates than the standard utility option, says they’re seeing rates about 5% lower than what’s coming in October.