Marylanders Who Signed Up with Retail Suppliers Since the State Deregulated Have Paid an Extra $1.2 Billion
WASHINGTON, May 9, 2024 /PRNewswire/ -- Today, Maryland Governor Wes Moore signed into law Senate Bill 1 (SB1). This legislation provides reasonable oversight of electricity markets and protects customers by restricting the amount retail suppliers can charge. This brings an end to the most harmful component of Maryland's deregulation experiment, which began in 1999 under the Electric Choice Act and promised energy savings for consumers. In the 25 years following the Electric Choice Act, Maryland customers collectively have paid an extra $1.2 billion to retail energy suppliers, compared to regulated electricity and gas prices.
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