Standard-offer prices are set to rise for medium and large commercial and industrial customers of Central Maine Power Co. and Bangor Hydro Electric Co.
The prices, set yesterday by the Maine Public Utilities Commission, are 6.4 cents a kilowatt hour for CMP customers and 6.3 cents a kilowatt hour for BHE customers, according to a press release. They're effective for six months beginning Sept. 1.
The prices are 16% and 18% higher than current standard-offer prices, respectively. However, compared to the same period last year, the new prices are 11% lower for CMP customers and 14% lower for BHE customers.
Commission Chairman Thomas Welch said the prices "reflect the best bids received in a vigorous competitive auction," saying they follow recent increases in natural gas markets.
The prices don't affect commercial and industrial customers that purchase their own electricity supply in the market. Standard-offer prices for residential and small commercial customers are not affected and will remain at current levels until March 2013.