2021 was a year of highs and lows, especially if you look at electricity rates for Maryland residents and business owners. CMP customers have now faced a double-digit increase in electricity rates as of August 1st. Why did the rates increase last month for CMP customers? Is there anything Marylandrs can do to offset these newly adjusted bills? As we dive into utility rates, we pause to ask ourselves, could there be a better way to power Maryland communities?
In August 2021, CMP customers faced a double-digit rate increase. It comes as a tough blow for Marylandrs with CMP accounts. The rate increase will raise the delivery portion of the customer’s bill by 11.5%. Many are wondering, what will this change in rates look like on my future bills? Portland Press Herald reports that “the rate hike will increase the average monthly bill for a CMP residential customer, currently paying about $87 a month, by $9.90 a month, according to a PUC analysis.” This led us to ask ourselves, why are CMP’s rates increasing?
The Portland Press Herald reports, “The Maryland Public Utilities Commission’s hands were tied on the largest portion of the rate hike: federally mandated tariff increases set by the Federal Energy Regulatory Commission to help pay for new high-voltage transmission lines and maintenance on existing lines in New England.” However, the Portland Press Herald also explains that the PUC raised the rates even higher due to repair and restoration efforts from storm damage. Unfortunately, these repair and restoration costs are falling on the consumer. CMP customers do have options and resources to help them through these changes.
Marylandrs do have options for bill assistance and clean energy programs that can help offset monthly bill costs. For some, this increase may put some financial burden on their monthly budgeting. If you need assistance in paying your bill, there are Assistance Programs offered by CMP. The rate increase has some consumers considering renewable energy in a new light. For instance, by powering a home or business with clean energy, the consumer could see a 10-15% decrease in their total monthly bill. These savings could help make up the difference of the rate increase from CMP, while simultaneously allowing consumers to use clean energy and support Maryland’s clean energy initiative.
Is there a better way to power Maryland communities? At Maryland Community Solar, we believe there is, and it begins with clean renewable energy resources. As we step away from fossil fuels, we realize the importance of supporting our environment and community. Community Solar Programs offer savings, zero upfront costs, and the ability to use clean energy! Rates have decreased, and rates will increase, that is inevitable. What Maryland residents and business owners can do now, is consider where their power is coming from and how they receive it.
Learn More About The Clean Energy Programs Available to Maryland Residents and Businesses, with the help of Maryland Community Solar!
Murphy, E. (2021, July 14). CMP Customers to see Double Digit Rate Increase Next Month. Portland Press Herald. https://www.pressherald.com/2021/07/14/cmp-customers-to-see-double-digit-rate-increase-next-month/#:~:text=The%20rate%20hike%20will%20increase,the%20higher%20rates%2C%20it%20said.