Exploring New Electric Rates: Opportunities for Savings and Sustainability in Maryland, Pennsylvania, Illinois, Ohio, and Washington DC
June 21, 2024
As of June 1, electric rates have been adjusted across Illinois, Maryland, Ohio, Pennsylvania, and Washington D.C. These changes mark a crucial opportunity for residents to explore their options in the competitive retail energy market.
Understanding the Competitive Retail Energy Market
In these regions, residents aren’t tied to their default utility provider for the supply portion of their bill. The competitive market allows customers to compare different products and choose an alternative retailer that best suits their needs. This freedom to shop around can lead to numerous benefits.
Why Consider Switching Your Energy Provider?
Cost Savings: One of the primary reasons residents explore the retail energy market is the potential for cost savings. By comparing rates from various providers, you may find lower prices than those offered by your default utility, leading to significant savings on your monthly bills.
Predictable Billing: Some providers offer fixed-rate plans, which can be especially beneficial for those who prefer budgeting peace of mind. With these plans, your monthly bill remains consistent, protecting you from unexpected rate hikes and making financial planning easier.
Renewable Energy Options: For environmentally conscious consumers, the ability to choose 100% renewable energy plans is a significant draw. These plans allow you to support green energy initiatives and reduce your carbon footprint, contributing to a more sustainable future.
Value-Added Products: In addition to cost savings and sustainability, many alternative energy providers offer unique perks. For instance, some might include free nighttime charging for electric vehicles, rewards programs, or other value-added products that can enhance your overall experience.
Rate Changes by State
To help you navigate the new electric rates, here are detailed tables highlighting the changes for each state:
Illinois
Utility Supplier
Previous Rate Term
Previous Supply Rate
New Rate Term
New Supply Rate
Ameren I – CIPS
10/01/23 – 05/31/24
8.11 ¢/kWh
06/01/24 – 09/30/24
8.14 ¢/kWh
Ameren II – CILCO
10/01/23 – 05/31/24
8.11 ¢/kWh
06/01/24 – 09/30/24
8.14 ¢/kWh
Ameren III – IP
10/01/23 – 05/31/24
8.11 ¢/kWh
06/01/24 – 09/30/24
8.14 ¢/kWh
ComEd
10/01/23 – 05/31/24
6.87 ¢/kWh
06/01/24 – 09/30/24
6.90 ¢/kWh
Maryland
Utility Supplier
Previous Rate Term
Previous Supply Rate
New Rate Term
New Supply Rate
BGE
10/01/23 – 05/31/24
11.76 ¢/kWh
06/01/24 – 09/30/24
10.95 ¢/kWh
Delmarva MD
10/01/23 – 05/31/24
11.38 ¢/kWh
06/01/24 – 09/30/24
11.24 ¢/kWh
Potomac Edison
05/01/24 – 05/31/24
9.328 ¢/kWh
06/01/24 – 09/30/24
9.25 ¢/kWh
Pepco MD
06/01/23 – 05/31/24
10.51 ¢/kWh
06/01/24 – 09/30/24
10.72 ¢/kWh
Ohio
Utility Supplier
Previous Rate Term
Previous Supply Rate
New Rate Term
New Supply Rate
AEP Columbus Southern
04/01/24 – 05/31/24
11.32 ¢/kWh
06/01/24 – 06/30/24
7.68 ¢/kWh
AEP Ohio Power
04/01/24 – 05/31/24
11.32 ¢/kWh
06/01/24 – 06/30/24
7.68 ¢/kWh
Cleveland Electric
04/01/24 – 05/31/24
9.98 ¢/kWh
06/01/24 – 06/30/24
9.45 ¢/kWh
Duke Energy Ohio
05/01/24 – 05/31/24
9.71 ¢/kWh
06/01/24 – 06/30/24
8.01 ¢/kWh
Ohio Edison
04/01/24 – 05/31/24
10.11 ¢/kWh
06/01/24 – 06/30/24
9.29 ¢/kWh
Toledo Edison
04/01/24 – 05/31/24
10.45 ¢/kWh
06/01/24 – 06/30/24
9.42 ¢/kWh
AES Ohio
06/01/23 – 05/31/24
10.80 ¢/kWh
06/01/24 – 05/31/25
8.58 ¢/kWh
Pennsylvania
Utility Supplier
Previous Rate Term
Previous Supply Rate
New Rate Term
New Supply Rate
Duquesne
12/01/23 – 05/31/24
10.46 ¢/kWh
06/01/24 – 8/31/24
10.37 ¢/kWh
MetEd
12/01/23 – 05/31/24
11.31 ¢/kWh
06/01/24 – 11/30/24
10.40 ¢/kWh
PECO
12/01/23 – 05/31/24
8.92 ¢/kWh
06/01/24 – 08/31/24
9.28 ¢/kWh
Penelec PA
12/01/23 – 05/31/24
10.61 ¢/kWh
06/01/24 – 11/30/24
9.74 ¢/kWh
PPL
12/01/23 – 05/31/24
11.03 ¢/kWh
06/01/24 – 11/30/24
10.04 ¢/kWh
Penn Power
12/01/23 – 05/31/24
11.23 ¢/kWh
06/01/24 – 11/30/24
10.39 ¢/kWh
West Penn Power
12/01/23 – 05/31/24
10.01 ¢/kWh
06/01/24 – 11/30/24
8.79 ¢/kWh
Washington D.C.
Utility Supplier
Previous Rate Term
Previous Supply Rate
New Rate Term
New Supply Rate
Pepco DC
06/01/23 – 05/31/24
10.51 ¢/kWh
06/01/24 – 05/31/25
12.01 ¢/kWh
With the adjustment in electric rates, now is an ideal time to reassess your energy provider. Whether your goal is to save money, achieve more predictable billing, support renewable energy, or enjoy additional perks, the competitive retail energy market offers a range of options tailored to your needs. Take advantage of the new rates and explore your alternatives today to find the best fit for your energy consumption and lifestyle.
The Retail Energy Advancement League (REAL) is a national advocacy organization dedicated to the expansion and modernization of American retail energy markets. In many states, utility monopolies still control the electric market and customers can’t choose where they buy their electricity and gas.
