Baltimore Gas and Electric Co. said Thursday that electricity prices will rise for customers who don’t use an outside power supplier, the first jump in energy prices in four years.
That rise in costs, running from June through next May, 2014, comes on top of a distribution-rate increase approved in February.
BGE attributed the electricity price increase to rising natural-gas prices, among other factors.
“We fully understand that cost increases are never welcomed,” said Robert L. Gould, a BGE spokesman. “But we really encourage our customers to help offset the increase.”
One strategy: Shop for another energy supplier.
BGE said nearly 40 percent of its electric customers use third-party companies for their power supply.
The price of natural gas, one of the fuels used to create electricity, plunged in recent years but is on the rise. It cost electric utilities about 16 percent more for natural gas in February than it did the previous year, according to the most recent data from the U.S. Energy Information Administration. The industry’s cost for coal and petroleum dropped modestly during that period.
BGE said customers’ energy costs will be nearly 8 percent lower from June through next May than they were in the 2009-2010 period, thanks to drops in the intervening years. The new price is 14.6 cents per kilowatt hour, compared with 15.8 cents four years earlier.