PSC Warns Customers of Variable Rate Increases from Retail Suppliers
February 6, 2014 Email This Story Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Karen Abbott • firstname.lastname@example.org
The Maryland Public Service Commission issued a news release to alert Maryland energy customers who have contracted with retail energy suppliers, "that the recent spate of extremely cold temperatures may affect their rates if they have contracted with retail energy suppliers through variable rate contracts."
"Therefore, the Commission urges all customers, particularly those with variable rate agreements, to review their contracts, as the continued frigid weather has increased both demand and the wholesale price of natural gas and electricity," the PSC said.
The PSC noted that although fixed-price customers are guaranteed a set rate for a period of time, when some of those contracts expire they may be converted to a variable rate agreement. "Current retail customers are advised to review their existing contracts and contact their suppliers to answer questions and address any concerns. Those customers who are shopping for an alternative energy supplier or are considering returning to their utility Standard Offer Service provider should evaluate the different types of offers, along with the terms, conditions, renewal and cancellation provisions when entering into or cancelling a retail contract," the PSC said.