As of Friday, December 20, Think Energy will no longer enroll any retail electricity contracts in Maryland, including renewals and product changes.
These changes only affect our ability to offer Maryland electricity products; we'll continue to focus on growing community solar in Maryland, which has built substantial momentum in a short period of time and will not be affected.
Background
- The state is eliminating the Purchase of Receivables (POR) program, resulting in changes to billing processes that place increased risk and complexity on retail suppliers.
- Utilities have indicated it will take 18 months to implement a correct billing process under the new system.
- In the interim, suppliers would need to bill customers directly, which would mean two monthly bills for the customer, one from the supplier and one from the utility. This is impractical and not an operational model suppliers use.
- Without the POR mechanism, the cost and risks of operating in Maryland will significantly increase and it no longer makes business sense for Think to continue offering electricity products in the state.
Impact on Think+
- Effective December 20: No new customer enrollments, renewals, or product changes will be processed in Maryland.
- Existing customers are not immediately impacted (no known timetable).
- Residuals will be paid out for as long as customers remain with Think Energy.
- Think Energy will always monitor market and regulatory environments and offer products when and where it makes the most business sense. Right now, we’re committed to growing Think Community Solar in Maryland and in other active markets where we continue to provide value and opportunity.
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