Many utility companies in SunnyMac’s service area (Delaware, Pennsylvania, New Jersey and Maryland) updated rates on June 1, 2024. There have been other rate updates throughout the year as well. To help keep you informed, we’ve summarized the recent changes by state. Keep in mind that hot summer months require the most energy, so it’s a good idea to look for ways to reduce your energy consumption or consider switching to clean, renewable solar energy. We are happy to provide you with a complimentary savings analysis so you can make an informed decision on whether solar is right for you.

Delaware

  • On January 30, 2024 the Delaware Municipal Electric Corporation (DEMEC) announced an 8.36% increase to DEMEC members for the purchase of wholesale power.1 DEMEC is a not-for-profit joint action agency which represents all nine community-owned electric utilities in the state of Delaware. DEMEC members consist of: City of Newark, MSC of the City of New Castle, Town of Middletown, Town of Clayton, Town of Smyrna, City of Dover, City of Milford, Lewes Board of Public Works and City of Seaford. Collectively, they serve over 140,000 residents and businesses in their communities.2 Electric customers on the Delmarva peninsula will be charged $350 million over 4.5 years.
  • Delaware Electric Co-Op members served under its general service rate will experience an increase in the monthly energy costs of 6 percent. The service charge will increase from $16 to $28 per month.3

Maryland

  • The Maryland Public Service Commission unanimously authorized a rate increase over three years that is just shy of $408 million for Baltimore Gas and Electric Company’s (BGE) proposed multi-year rate plan, including gas and electric service. BGE serves 1.3 million residential electric and 700,000 natural gas customers. According to the commission, these rate changes will result in an average year-one bill increase of $4.08 a month for residential electric customers and $10.43 per month for residential gas customers in 2024.4
  • On May 1, 2024, Southern Maryland Electric Cooperative (SMECO) filed a request with the Maryland Public Service Commission (PSC) to increase its Distribution Service base rates. If the request is approved, customers would experience an overall monthly electric bill increase of 10.9 percent. The Distribution Services charge on utility bills covers the cost of delivering electricity supply from the wholesale market to homes and businesses.5

New Jersey

  • The New Jersey Board of Public Utilities approved results of the state’s annual electricity auction, and the average monthly bill will increase from 3.6% to 8.6% starting June 1. Ratepayers supplied by PSE&G will see a bill increase of roughly 6.2% increase on average. Ratepayers supplied by JCP&L will see a bill increase of roughly 8.6%. Ratepayers supplied by ACE will see a bill increase of roughly 4.8%. Ratepayers of RECO will see a bill increase of roughly 3.6%.6 Over 4 million customers in New Jersey will see increases in their monthly bills.7

Pennsylvania

  • PECO is requesting a $464 million overall electric rate increase. This would result in a total monthly residential electric bill increase of 12.3% in 2025 for a customer using 700 kWh. The increase for natural gas customers would be 16.5% for those using 80 Ccf per month.8
  • FirstEnergy Pennsylvania Electric Company on behalf of the Met-Ed Rate District filed a request with PUC to increase electric rates. This request would mean the total bill for residential customers using 1,000 kWh would increase from $187.70 to $205 per month, or 9.2%.9

Resources

  1. Newark Delaware. 2024 DEMEC Electric Rate Adjustment. Accessed June 10, 2024.
  2. Delaware Municipal Electric Corporation. About Delaware Municipal Electric Corporation. Accessed June 10, 2024.
  3. Delaware Electric Cooperative. 2024 Rate Restructuring. Accessed June 10, 2024.
  4. CBS News. Maryland Public Service Commission authorizes BGE’s proposed multi-year rate hike. Last update December 15, 2023. Accessed June 10, 2024.
  5. SMECO. Straight Talk About Your Electric Bill. Accessed June 10, 2024.
  6. State of New Jersey. New Jersey Board of Public Utilities Approves 2024 Electricity Auction Results. Accessed June 10, 2024.
  7. New Jersey 101.5. Big electric bill rate hikes hitting 4 million new jersey customers again. Accessed June 10, 2024.
  8. PAPUC. PUC Sets Initial Early-June Public Input Hearings for $510 Million Electric and Natural Gas Rate Increases Proposed by PECO. Accessed June 10, 2024.
  9. First Energy Corp. Notice of Proposed Rate Changes. Accessed June 10, 2024.
Back to Blog

Get Your Free Savings Analysis