Though state officials say Mainers are already struggling to pay their electric bills, the utility says the distribution rate increases for hiring and resiliency upgrades would occur as some temporary charges expire, mitigating the cost to customers.
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Posted inBusiness, Local & State, News
Federal data suggests Maine had the highest electricity hike last year. The picture is not so clear.
A report that residential prices rose in Maine by more than a third raised some alarms, but state officials say the true cost to ratepayers is much lower.
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Posted inBusiness, Local & State, News
CMP’s 5-year plan to add workers, lower storm costs carries big price tag
The company is asking state regulators for permission to increase revenue by more than $400 million between 2026 and 2031.
Posted inBusiness, Local & State, Nation & World, News, Politics
Changes to energy tax credits could raise Maine’s electricity costs
Congress is weighing the early termination of handful of tax credits related to installing solar panels, shifting to electric vehicles and building more energy efficient homes.
Posted inOp-Eds, Opinion
To keep electricity costs down, Susan Collins must lead the charge | Opinion
Tax credits that have protected Maine are ripe targets for Republican cuts — unless our senior senator steps up to stop them.
Posted inBusiness, Local & State, News
Gas pipeline operators’ push for higher rates could spark increase in electricity costs
Besides delivering gas to homes, the pipelines also supply power plants that generate electricity, meaning the requests before the Federal Energy Regulatory Commission will have a ripple effect on the cost of electricity.
Posted inBusiness, Local & State, News
Lawmakers consider authorizing regulators to set electric rates based on performance
The Maine Public Utilities Commission would use metrics gauging the service provided by Central Maine Power and Versant Power when considering a rate increase.
Posted inBusiness, Local & State, News
Proposal would extend program for low-income electricity customers struggling to pay bills
A law that helps customers catch up on past-due electric bills by forgoing a portion of the past amount is set to expire in September.
Posted inBusiness, Local & State, News
Mainers will pay $30 less per month on average for electricity in 2024
The standard-offer rate for Central Maine Power customers will decrease by 35%; Versant Power customers will see a 24% drop. The decreases are the result of a big drop in natural gas prices.
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Some relief expected for Maine electricity customers come January
Analysts expect a 20%-30% drop in supply rates, but there’s still plenty of uncertainty with the Public Utilities Commission set to select bids next month for 2024 standard offer service.