The Delaware Public Service Commission reported that Delmarva Power electric rates will drop by 4 percent for small business customers, and 3 percent for residential customers.
The slightly lower rates are the result of a recent electric power auction process by Delmarva Power.
The auction involved a third of the power supply in an effort to avoid the possibility of spikes in electric power prices.
Of the eight companies eligible to bid, all eight actually bid. The winning suppliers were: Hess Corporation; Exelon; Macquarie Energy LLC; NextEra Energy Power Marketing, LLC.;Shell Energy North America (US), L.P.; and DTE Energy Trading, Inc.
Based on the bid prices alone, Medium General Service customers (typically businesses) will see an approximate 7.2% rate increase, Large General Service Customers will see an approximate 2.8% rate increase, and General Service customers will see an approximate rate decrease of 0.7 percent.
Customers can also purchase power from suppliers other than Delmarva. Options include NextEra and Washington Gas Energy Services. The suppliers have been sending out marketing materials indicating tha residential customers will pay 10 percent less a year. Prices for those companies are guaranteed for one year.
The supply charge is one of two items on the electric bill. The other is Delmarva’s cost to bring the electricity to the home or business regardless of the supplier. Costs in that area have been going up.
The full version of the Technical Consultant’s Final Report can be found on the DE PSC’s website .