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Central Maine Power Co. is seeking permission to raise electricity rates in order to finance $427 million in upgrades to the power grid and hire hundreds of line workers over the next five years.
Distribution rates would rise by $17 per month in 2026, followed by smaller increases in the four years after that. Over the course of five years, the total monthly increase would be $35, as laid out in a notice emailed to customers on Tuesday.
The plan, filed this week with the state’s utilities regulator, calls for adding 400 Maine-based employees, including 200 line workers to install, maintain and repair power lines damaged by extreme weather and invest hundreds of millions to upgrade and expand infrastructure.
“Year-round, our electric grid is challenged by extreme heat in the summer and powerful storms in the winter. That’s why we’re planning to invest in a stronger, more resilient grid, built by a growing, Maine-based workforce trained right here in our state," said Linda Ball, CMP's new president and CEO.
"Over the next five years, these targeted investments will not only enhance reliability but also provide greater financial stability and predictability for our customers," she added.
Ahead of public hearings before the Maine Public Utilities Commission, Gov. Janet Mills said the rate increase “blatantly ignores” the economic reality that Maine residents face every day and has directed the Governor’s Energy Office to intervene in opposition to CMP’s request.
"I recognize that investing in our grid to improve reliability is important, but this request is massive and unacceptable, the Democrat said. “It undermines legislation I signed to ensure planned electric utility investments are transparent and are made with input from Maine people.”
Maine Public Advocate Heather Sanborn, whose office will represent ratepayers in the case before the Public Utilities Commission, expressed similar concerns over what she called an “enormous increase.”
“At a time when many families are already struggling to afford their bills, CMP’s proposal asks Mainers to pay even more,” Sanborn said. “We need to ensure electricity distribution costs don’t spiral out of control, especially as our state encourages people to electrify their homes and vehicles to meet climate goals. Affordability must remain front and center.”
The company defended its plan in a statement emailed to Mainebiz.
“At a time when costs are rising across the board, this five-year plan was designed with customer affordability in mind,” the company said. “With any rate plan, we fully expect scrutiny from the OPA [Office of the Public Advocate] during the public and transparent review and approval process. We welcome the OPA’s feedback as we work to balance the challenges of aging infrastructure and extreme weather with customer affordability.”
CMP, a subsidiary of Orange, Conn.-based Avangrid Inc. (NYSE: AGR), serves around 646,000 customers in central and southern regions of Maine.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Whether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
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