Energy Prices On The Rise Since February 2013

Let the BWCC Help with its Energy Purchasing Coops…

Energy prices have been on a slow but steady upward rise since February 2013. The average increase has been approximately 3.5% for the past 12 months. The projection based on increased demand and active trading is for the average annual increase to be 4% per year for the next two years. Natural gas production has been strong but demand for natural gas has been more than expected. The reason for the increases in demand are due to expansion of manufacturing production use of natural gas, buildings and power plant conversions from oil and coal to natural gas, and increased exports of natural gas, especially to Japan. All are contributing to a rise in costs for both natural gas and electricity. 

Even with these increases, you are still able to obtain fixed price contract at rates lower than three year ago. Last year pricing was equal to or lower than the prior three years. The past twelve months’ pricing is equal to or slightly higher than the prior year. Owners are again seeking longer term contracts up to 36 months in length.

If you have an existing contract ending within the next 12 months, you should consider seeking a price offer to extend your contract past the current contract ending meter read date.

You do not have to navigate the energy choice decisions and price evaluation process alone.

The Baltimore Washington Corridor Chamber (BWCC) commercial and residential energy cooperative (Co-op) provides a program to assist members purchasing electricity and natural gas supply services. 

The benefits you receive when you join the Chamber energy co-op are:

• Receive a fixed rate on your electric and natural gas bill which will not change during your contract term.
• Receive lower rates based on the group buying power of the co-op
• Receive ongoing support and customer services from CQI Associates who professionally manages the co-op program and has 18 years of industry experience in Maryland.
• Receive options to obtain up to 100% clean, renewable, wind powered electricity service. 

Market rates for 12, 24, and 36 month contracts will provide long-term budget stability to help you manage energy costs well thru to 2016.  

Learn how your business and home can benefit from joining the Energy Purchasing Cooperative by calling the BWCC at 301-725-4000 or 410-792-9714, emailing us at shirley.redd@bwcc.org or visit our website at www.bwcc.org.