Comparison of Electric Rates in Maryland

 Maryland’s electricity market offers a mix of regulated utility rates and third-party retail supplier options, making rate comparison a valuable exercise for cost-conscious residents. While the state isn’t as low-cost as some parts of the country, savvy consumers can still find competitive plans tailored to their usage.

1. Average and Utility Rates
According to the U.S. Energy Information Administration (EIA), Maryland’s average retail electricity price was about 14.34 ¢ per kWh in 2023.  However, this average masks important regional and provider-based differences. For instance, regulatory filings show that in 2024, the average Maryland rate rose to 15.04 ¢/kWh. 

Major utilities in Maryland include Baltimore Gas & Electric (BGE), Pepco, Delmarva Power, Potomac Edison, and Southern Maryland Electric Cooperative.  RetailEnergyChoice reports that for the period October 2023 – May 2024, BGE’s default (or “standard offer”) supply rate was 11.85 ¢/kWh, while Delmarva’s was 11.52 ¢/kWh, Potomac Edison’s 9.22 ¢/kWh, and Pepco’s 12.01 ¢/kWh. 

2. Retail Supplier (Choice) Market
Thanks to deregulation, Maryland residents can choose third-party electricity suppliers who compete on price, contract terms, and green-energy options. But this competition comes with trade-offs: these retail choice plans vary widely, ranging from very low to relatively high rates. According to Ecowatch, current Maryland retail rates fall between 7.19 ¢/kWh and 18 ¢/kWh, depending on the provider and plan type. 

PowerOutage’s November 2025 data shows even more spread: Maryland rates range from a low of 6.84 ¢/kWh (for some third-party offers) to as high as 21.39 ¢/kWh.  But while those low “teaser” rates sound attractive, consumers need to examine whether they include hidden fees, minimum usage requirements, or change after a promotional period.

3. Cost Drivers and Recent Trends
Some of Maryland’s rate dynamics reflect larger shifts in supply and infrastructure costs. The Maryland Public Service Commission notes that rising transmission, generation, and distribution costs have contributed to increasing electricity prices.  Additionally, a report on energy affordability found that while regulated utility customers paid about 12.8 ¢/kWh (all-in) on average, retail-choice customers paid more — around 15.6 ¢/kWh. 

Market changes also influence how many competitive offers are available. According to shopping-summary data from 2024, there were hundreds of retail supply offers, including many fixed-price and “100% renewable” plans. But as some users note, legislative reforms (for example, Maryland’s Senate Bill 1) have reshaped the marketplace, leading to concerns about fewer third-party options in some areas. > “Every alternative electricity supplier has now pulled out … now we only have one option … the default utility monopoly”

4. Comparison & What to Watch When Choosing

  • Default Utility vs. Retail Supplier: Default utility rates are generally stable and predictable, but might not be the cheapest. Retail suppliers can offer lower or greener plans, but your savings depend heavily on your usage and whether the rate is locked in or variable.

  • Supply Rate Origin: Make sure you understand whether the quoted rate is from the utility or a third-party supplier. Retail offers may look cheap but could have fees or complex terms.

  • Contract Term: Fixed-rate plans provide long-term certainty, while short-term or variable plans may fluctuate (or be promotional).

  • Regulatory Changes: Policy changes — such as regulatory caps or reform bills — can affect the availability of third-party providers and the competitiveness of rates.

  • Green Energy Options: If sustainability matters, there are retail suppliers offering 100% renewable energy, but these may cost more than standard offers.

5. Conclusion
In summary, comparing electric rates in Maryland involves balancing stability vs. savings. While the average retail rate is relatively high compared to some states, the presence of a deregulated market means that informed consumers have options. By carefully evaluating default utility rates and retail supplier offers — and paying attention to contract terms, rate structure, and recent regulatory shifts — Maryland residents can potentially lower their electricity costs or choose cleaner energy plans without overpaying. Connect with Comparison Junction team to get al details from their.

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