Maryland Introduces New Time-of-Use Rate to Save Customers Money
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy FE?
Source: PRnewswire
- New Rate Plan: Potomac Edison in Maryland launched a new residential time-of-use rate on April 20, 2026, allowing customers to save on their electric bills by using electricity during off-peak hours, particularly in the mornings, late evenings, and weekends when demand is lower.
- Pricing Mechanism: The time-of-use rate varies based on the time of day electricity is used, with certain charges remaining constant; this encourages customers to shift their daily activities to off-peak hours to reduce monthly bills significantly.
- Customer Enrollment: Customers can enroll without any upfront costs, and their meters will be replaced to track on-peak and off-peak usage, with the new rate taking effect in the next billing cycle, impacting approximately 285,000 customers in Maryland.
- Company Overview: Potomac Edison is a subsidiary of FirstEnergy, which operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across multiple states, highlighting its significant presence in the energy sector.
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Analyst Views on FE
Wall Street analysts forecast FE stock price to fall
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 49.450
Low
46.00
Averages
49.25
High
54.00
Current: 49.450
Low
46.00
Averages
49.25
High
54.00
About FE
FirstEnergy Corp. and its subsidiaries are involved in the transmission, distribution, and generation of electricity through its segments: Distribution, Integrated and Stand-Alone Transmission. The Distribution Segment, which consists of the Ohio Companies and FirstEnergy Pennsylvania Electric Company (FE PA), distributes electricity in Ohio and Pennsylvania. The Integrated segment includes the distribution and transmission operations under Jersey Central Power & Light Company (JCP&L), Monongahela Power Company (MP) and The Potomac Edison Company (PE), as well as MP's regulated generation operations. The segment distributes electricity in New Jersey, West Virginia and Maryland, provides transmission infrastructure, and operates 3,604 MWs of regulated net maximum generation capacity. The Stand-Alone Transmission segment consists of its ownership in FET and KATCo, which includes transmission infrastructure owned and operated by the Transmission Companies and used to transmit electricity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Upgrades to Enhance Toledo Edison Customer Service
- High-Voltage Line Rebuild: American Transmission Systems, Inc. is rebuilding approximately 11 miles of high-voltage power line in Williams County with an investment of about $24 million, aimed at replacing aging equipment and enhancing structures to reduce outage risks, thereby improving service reliability for Toledo Edison customers.
- Disaster Resilience Enhancement: The new line features sturdier wooden poles and steel structures, along with thicker, higher-capacity wires designed to better withstand severe weather and falling trees, which are common causes of outages, and is expected to significantly reduce the frequency of power interruptions.
- Improved Power Flow: This project will enhance the flow of electricity, making it easier to reroute power during emergencies, ensuring continuous service for customers during maintenance or unexpected events, thus increasing overall customer satisfaction and trust.
- Long-Term Investment Plan: This upgrade is part of FirstEnergy's Energize365 long-term investment program, which plans to invest $36 billion between 2026 and 2030 to build a smarter, more resilient grid that meets the evolving needs of communities.
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Utility Sector Sees Surge in Power Demand
- Rising Power Demand: According to the U.S. Energy Information Administration (EIA), electricity demand is projected to increase by 1.2% in 2026 to 4,108 billion kilowatt-hours, with a further rise of 3.3% in 2027, which will boost revenues for utility companies.
- Renewable Energy Transition: Utilities are accelerating their shift to renewable energy by phasing out aging coal-fired plants to meet stricter environmental standards, thereby reducing carbon emissions and attracting sustained investor interest.
- Favorable Interest Rate Environment: Stable, low interest rates create a favorable backdrop for capital-intensive utility companies, lowering financing costs and enhancing project economics, allowing for more efficient large-scale expansions.
- Optimistic Industry Outlook: The Zacks industry ranking indicates that the Utility-Electric Power sector is positioned in the top 36% of over 243 industries, reflecting analysts' positive earnings outlook, with 2026 earnings estimates raised by 5.3%.
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Upgrades to Enhance Toledo Edison Customer Service
- High-Voltage Line Rebuild: American Transmission Systems, Inc. is rebuilding approximately 11 miles of high-voltage power line with an investment of about $24 million, aimed at replacing aging equipment and introducing new technology to reduce outage risks for Toledo Edison customers, thereby enhancing the reliability of the power system.
- Equipment Upgrade: The project replaces wooden poles with steel structures set in concrete foundations and installs thicker, higher-capacity wires to improve the line's resilience against extreme weather, thus reducing power outage incidents and enhancing customer electricity experience.
- Strategic Investment: This project is part of FirstEnergy's Energize365 long-term investment program, which plans to invest $36 billion between 2026 and 2030 to build a smarter, more resilient grid that meets the evolving needs of communities across the service area.
- Reliability Improvement: Since 2020, ATSI has reduced transmission outages in Ohio by 31%, and this upgrade will further enhance grid reliability, ensuring quicker power restoration during emergencies and improving customer satisfaction.
See More
Maryland Introduces New Time-of-Use Rate to Save Customers Money
- New Rate Plan: Potomac Edison in Maryland launched a new residential time-of-use rate on April 20, 2026, allowing customers to save on their electric bills by using electricity during off-peak hours, particularly in the mornings, late evenings, and weekends when demand is lower.
- Pricing Mechanism: The time-of-use rate varies based on the time of day electricity is used, with certain charges remaining constant; this encourages customers to shift their daily activities to off-peak hours to reduce monthly bills significantly.
- Customer Enrollment: Customers can enroll without any upfront costs, and their meters will be replaced to track on-peak and off-peak usage, with the new rate taking effect in the next billing cycle, impacting approximately 285,000 customers in Maryland.
- Company Overview: Potomac Edison is a subsidiary of FirstEnergy, which operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across multiple states, highlighting its significant presence in the energy sector.
See More
Maryland Introduces New Time-of-Use Rate to Save Customers Money
- New Rate Policy: Potomac Edison launched a new residential time-of-use rate on April 20, 2026, allowing customers to save on their electric bills by using electricity during lower demand periods, particularly in the mornings, late evenings, and weekends.
- Price Differentiation: On-peak rates during weekdays from 4 p.m. to 9 p.m. are approximately 16 cents per kilowatt-hour, while off-peak rates drop to about 9 cents, representing a 44% reduction, which will directly impact customers' electricity expenses.
- Savings Strategy: Customers can effectively lower their monthly bills by shifting everyday activities like running dishwashers and doing laundry to off-peak hours, enhancing household economic efficiency and increasing customer satisfaction with the utility provider.
- Simple Enrollment Process: There is no upfront cost to enroll, and after registration, customers will have their meters replaced to track on-peak and off-peak usage, with the new rates taking effect in the next billing cycle, further encouraging participation in energy-saving initiatives.
See More
FIRSTENERGY INTRODUCES NEW TIME-OF-USE RATE ON APRIL 20, OFFERING REDUCED OFF-PEAK PRICES
New Time of Use Rate: FirstEnergy is implementing a new time-of-use rate structure effective April 20, which will affect how customers are charged for electricity.
Lower Off-Peak Prices: The new rate plan includes lower prices during off-peak hours, encouraging customers to use electricity during these times to save on costs.
See More
Upgrades to Enhance Toledo Edison Customer Service
- High-Voltage Line Rebuild: American Transmission Systems, Inc. is rebuilding approximately 11 miles of high-voltage power line in Williams County with an investment of about $24 million, aimed at replacing aging equipment and enhancing structures to reduce outage risks, thereby improving service reliability for Toledo Edison customers.
- Disaster Resilience Enhancement: The new line features sturdier wooden poles and steel structures, along with thicker, higher-capacity wires designed to better withstand severe weather and falling trees, which are common causes of outages, and is expected to significantly reduce the frequency of power interruptions.
- Improved Power Flow: This project will enhance the flow of electricity, making it easier to reroute power during emergencies, ensuring continuous service for customers during maintenance or unexpected events, thus increasing overall customer satisfaction and trust.
- Long-Term Investment Plan: This upgrade is part of FirstEnergy's Energize365 long-term investment program, which plans to invest $36 billion between 2026 and 2030 to build a smarter, more resilient grid that meets the evolving needs of communities.
See More
Utility Sector Sees Surge in Power Demand
- Rising Power Demand: According to the U.S. Energy Information Administration (EIA), electricity demand is projected to increase by 1.2% in 2026 to 4,108 billion kilowatt-hours, with a further rise of 3.3% in 2027, which will boost revenues for utility companies.
- Renewable Energy Transition: Utilities are accelerating their shift to renewable energy by phasing out aging coal-fired plants to meet stricter environmental standards, thereby reducing carbon emissions and attracting sustained investor interest.
- Favorable Interest Rate Environment: Stable, low interest rates create a favorable backdrop for capital-intensive utility companies, lowering financing costs and enhancing project economics, allowing for more efficient large-scale expansions.
- Optimistic Industry Outlook: The Zacks industry ranking indicates that the Utility-Electric Power sector is positioned in the top 36% of over 243 industries, reflecting analysts' positive earnings outlook, with 2026 earnings estimates raised by 5.3%.
See More
Upgrades to Enhance Toledo Edison Customer Service
- High-Voltage Line Rebuild: American Transmission Systems, Inc. is rebuilding approximately 11 miles of high-voltage power line with an investment of about $24 million, aimed at replacing aging equipment and introducing new technology to reduce outage risks for Toledo Edison customers, thereby enhancing the reliability of the power system.
- Equipment Upgrade: The project replaces wooden poles with steel structures set in concrete foundations and installs thicker, higher-capacity wires to improve the line's resilience against extreme weather, thus reducing power outage incidents and enhancing customer electricity experience.
- Strategic Investment: This project is part of FirstEnergy's Energize365 long-term investment program, which plans to invest $36 billion between 2026 and 2030 to build a smarter, more resilient grid that meets the evolving needs of communities across the service area.
- Reliability Improvement: Since 2020, ATSI has reduced transmission outages in Ohio by 31%, and this upgrade will further enhance grid reliability, ensuring quicker power restoration during emergencies and improving customer satisfaction.
See More
Maryland Introduces New Time-of-Use Rate to Save Customers Money
- New Rate Plan: Potomac Edison in Maryland launched a new residential time-of-use rate on April 20, 2026, allowing customers to save on their electric bills by using electricity during off-peak hours, particularly in the mornings, late evenings, and weekends when demand is lower.
- Pricing Mechanism: The time-of-use rate varies based on the time of day electricity is used, with certain charges remaining constant; this encourages customers to shift their daily activities to off-peak hours to reduce monthly bills significantly.
- Customer Enrollment: Customers can enroll without any upfront costs, and their meters will be replaced to track on-peak and off-peak usage, with the new rate taking effect in the next billing cycle, impacting approximately 285,000 customers in Maryland.
- Company Overview: Potomac Edison is a subsidiary of FirstEnergy, which operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across multiple states, highlighting its significant presence in the energy sector.
See More
Maryland Introduces New Time-of-Use Rate to Save Customers Money
- New Rate Policy: Potomac Edison launched a new residential time-of-use rate on April 20, 2026, allowing customers to save on their electric bills by using electricity during lower demand periods, particularly in the mornings, late evenings, and weekends.
- Price Differentiation: On-peak rates during weekdays from 4 p.m. to 9 p.m. are approximately 16 cents per kilowatt-hour, while off-peak rates drop to about 9 cents, representing a 44% reduction, which will directly impact customers' electricity expenses.
- Savings Strategy: Customers can effectively lower their monthly bills by shifting everyday activities like running dishwashers and doing laundry to off-peak hours, enhancing household economic efficiency and increasing customer satisfaction with the utility provider.
- Simple Enrollment Process: There is no upfront cost to enroll, and after registration, customers will have their meters replaced to track on-peak and off-peak usage, with the new rates taking effect in the next billing cycle, further encouraging participation in energy-saving initiatives.
See More
FIRSTENERGY INTRODUCES NEW TIME-OF-USE RATE ON APRIL 20, OFFERING REDUCED OFF-PEAK PRICES
New Time of Use Rate: FirstEnergy is implementing a new time-of-use rate structure effective April 20, which will affect how customers are charged for electricity.
Lower Off-Peak Prices: The new rate plan includes lower prices during off-peak hours, encouraging customers to use electricity during these times to save on costs.
See More
