The company is asking state regulators for permission to increase revenue by more than $400 million between 2026 and 2031.
electric rates
Posted inBusiness, Local & State, News
New Maine laws will change electricity billing, formalize energy goals
Among a slate of energy laws passed this session are ones that will change the state’s contentious net energy billing program and create a new Department of Energy Resources.
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Posted inBusiness, Local & State, News
Maine regulators rap Versant for delaying audit over electricity rates
The cost of reviewing the utility’s operations, to be paid by ratepayers, has soared to $554,025, over than $140,000 more than the original contract price.
Posted inBusiness
$30 million grant to bolster CMP grid a down payment on big projects
The money will be spent installing new devices that allow power to be restored more quickly and often remotely. The limited number of new devices already in service restored power to 74,000 customers in less than five minutes, said CMP.
Posted inBusiness, Local & State, News
CMP customers may see home electricity bills increase nearly $2 next month
Under a plan that must still be reviewed by the Public Utilities Commission, Central Maine Power’s rates for distributing electricity would be stepped up over 3 years.
Posted inBusiness, Local & State, News
CMP rate hike hearings now on hold pending settlement talks
A compromise in a proposed rate hike for Central Maine Power may be reached without an evidentiary hearing or a high-stakes ruling by the Public Utilities Commission.
Posted inBusiness, Local & State, News
PUC rejects proposed $75 power bill credit for low-income Mainers
The Maine Public Utilities Commission said the credit would have shifted costs to other struggling electricity customers.
Posted inBusiness, Local & State, News
Rate hike will bump up average Versant Power electric bill by $24 a month
The standard-offer rate, the price customers pay for the supply of power, is rising 41% next year in northern and eastern Maine. A similar increase may be in store for Central Maine Power customers.
Posted inBusiness, Local & State, News
Maine small businesses will get help with spiking electricity bills
A state program will provide credits of more than $2,000 to hundreds of businesses to provide relief from high electric rates.
Posted inBusiness, Local & State, New England, News
Pricey, imported natural gas will drive Maine’s electricity habit this winter
While the U.S. exports natural gas at record levels, New England will have to import it, in liquid form. That dependence could cost a typical Maine household an extra $22 a month in electricity.