The freedom to choose your energy rates in Maryland is not only available in homes but also to commercial customers. In fact, more than 90% of large businesses in the state have enrolled with alternative suppliers. This competition between energy suppliers to provide lower prices for businesses could be why commercial electric prices in Maryland are lower than the national average this year. If the same competition between suppliers existed for residential customers, prices might also decrease. However, without participation in energy choice, suppliers are not forced to compete for your business. Want to see the available rates? Enter your ZIP code above.
OPEC nations, along with Russia and Mexico, have refused to cut production, which is their traditional tool to prop up oil prices, out of fear of losing market share to the U.S., which has transformed the international oil market by greatly expanding hydraulic fracturing over the past decade. And U.S. producers might not lower production as quickly as some investors expect because of the significant improvement in the efficiency of horizontal fracturing wells.
Then, in 2002, Texas deregulated the electricity market and everybody cheered! Except that, sure, deregulation opened up the market to competition that may (or may not) have resulted in lower rates, but it introduced a whole host of other issues. These issues may not have been factors before but now they’re critical when you’re on the look-out for cheap Houston electricity providers.