How do I use SQL parameters with python?

I am using python 2.7 and pymssql 1.9.908.

In .net to query the database I would do something like this:

using (SqlCommand com = new SqlCommand("select * from Customer where CustomerId = @CustomerId", connection))
{
    com.Parameters.AddWithValue("@CustomerID", CustomerID);
    //Do something with the command
}

I am trying to figure out what the equivalent is for python and more particularly pymssql. I realize that I could just do string formatting, however that doesn't seem handle escaping properly like a parameter does (I could be wrong on that).

How do I do this in python?