“Energy” is a common topic of discussion these days. With recent geopolitical events in the Middle East one’s attention becomes focused on the costs of energy. What will happen? The U.S. is becoming more and more energy independent—but on the world stage when the price of oil goes up, you’ll find other prices going up accordingly because of various political agreements—gasoline prices, and of course electricity and natural gas.
Riding in to work this morning I heard the news on the radio that gasoline prices in our area could be expected to spike soon. You may have already seen prices going up in your community.
Have you given a thought to your business’s electric bill and what will happen with the price of electricity? What if you use natural gas? Will that go up as well? The answer is you could very well see prices spike in electricity and natural gas as well. Did you know that natural gas is used to PRODUCE electricity? Did you know that the production of electricity can be dependent on oil as well? So yes, one has to connect the dots. That’s where we come in. We study the markets and get a good grasp of what’s happening and then help you lock in the best rate available in the current market for your electricity and natural gas.
A Trend Toward Renewable Sources of Energy
There is another trend occurring that will be influencing energy costs as we move into the near future. Many states have what’s called a Renewable Portfolio Standard (RPS) which requires that a specified percentage of electricity that utilities sell comes from renewable sources. States in the Northeast U.S. have been updating their RPS regulations requiring up to 50% (or greater) of energy be from renewables within the next ten years. Maryland, New York, and Washington, D.C.—to name a few—will require 50%. In June, Maine updated their percentage to 80%. What this means is that because renewables are more expensive, the price of electricity will be going up. More and more states are following suit.
In fact, in Maryland, starting in January 2020 you can expect all pricing from any and all energy suppliers to be significantly higher and will continue to rise through to 2030. However, Maryland has a grandfather clause—any account that is part of an energy agreement that was executed prior to Oct 1, 2019 is grandfathered in and will not experience a rate increase as a result of the RPS increase.
For more information just Google “Maryland RPS Increase” and you will find many articles and links confirming this information.
And that’s just Maryland. If you are in another state you could Google the RPS increase in your state. If you’re too busy, just call us. That’s what we’re here for.
Don’t wait till it’s too late. Call us as soon as possible and lock in a fixed rate for as far out as you can go into the future. In some cases we can lock in rates for up to 8 years! A quick call with one of our Energy Consultants could save you the stress of higher costs of electricity in the future.
Call 1-866-748-2669 today for a Free Rate Analysis.