Maine regulator approves CMP, Versant rate increases
File photo / Versant Power
Customers of Central Maine Power Co. and Versant's Maine Public District will pay a higher rate for the supply of electricity under plans approved by Maine's utilities regulator.
Business and residential customers of Central Maine Power Co. and Versant Power face higher electricity bills in 2023 under plans approved by Maine's utility regulator.
The rate increases are set to take effect on Jan. 1, and apply to customers who do not choose to purchase electricity from a competitive supplier and instead receive Standard Offer Supply by default.
Maine's Public Utilities Commission said the price hikes reflect current regional electric power market conditions, which are strongly influenced by natural gas, as well as costs to ensure regional power supply reliability.
Maine electricity bills are broken into two parts, for supply and delivery. CMP and Versant provide delivery only, but include supply costs in the monthly bill sent to customers.
Residential and small non-residential customers of CMP face a 49% increase in the supply portion of their bill. The new rates apply to average customers using 550 kilowatt hours (kWh) per month. An electric bill includes two components: electricity supply and delivery.
In northern Maine, residential and small non-residential customers of Versant Power's Maine Public District will pay 34% more for their electricity supply.
"We recognize that this is a significant increase that comes at a time when consumers are already faced with rising prices due to inflation." Philip L. Bartlett II, chairman of Maine's Public Utilities Commission, said in a statement Wednesday. The three-member agency, based in Hallowell, regulates electric, telephone water and gas utilities in the state.
Bartlett noted that while natural gas markets are driving the price increases, "the markets have come down from a few months ago, resulting in a better outcome than we originally anticipated."
He also noted that the prices are lower than most other New England states.
"We do want to make sure that consumers know there are many programs available to them to assist with utility bills and energy conservation and we encourage them to seek assistance, if needed," Bartlett said. "The Commission has a full list of programs available on the Commission website."
Gov. Janet Mills, recently reelected to a second term, blamed the rate increase on Maine's over-reliance on fossil fuels, particularly natural gas.
To combat the problem, Mills said she's working on a proposal to help Maine people cope with high energy prices this winter and plans to submit the proposal to lawmakers next month.
"We must ensure that Maine people have support and security to heat their homes and keep themselves and their families safe," she said.
Most Recent
Most Recent
0 Comments