Electricity costs in Maine will increase in 2024

The Maine Public Utilities Commission has approved standard supply offers for Central Maine Power and Versant that will increase electricity rates for most Mainers in 2023. The offer, approved on Wednesday, will increase bills by about $32 per month for average CMP residential customers. That’s a 49% increase in the cost of electricity. Versant customers will see rates increase by approximately 34%. The standard supply tariff is set by the state, not by the utilities themselves. Phil Bartlett, chairman of the PUC, said Wednesday that customers are under pressure due to rising natural gas prices and the war in Ukraine. “Over time, we continue to expect to introduce more renewable energy and reduce the impact of natural gas on margin prices, more hours in the day and more weeks in the year so we can reduce volatility and offset some downward pressure on prices.” , said Bartlett. “We understand that these increased prices pose real challenges for many Mainers, especially as the cost of gasoline, heating oil, groceries and other basic necessities is also increasing,” said Joseph Purington, President and CEO of CMP. “We’re here to help and encourage all CMP customers who are being asked to pay their bills — now or in 2023 when those rates go into effect — to call us.” Gov. Janet Mills responded to the rate by saying, in part, “We will be preparing a proposal for consideration by the Legislature next month to help the people of Maine with significant hardship caused by high energy prices this winter.” The Maine GOP also responded, saying, “Mainers are being crushed by rapid increases in the price of essential goods due to high energy costs. Winter is coming, the situation is getting worse and we have to act. “Maine public attorney William Harwood says the Mainers are bracing themselves for a long, hard winter. “Last year when they stepped it up, we were overwhelmed with calls looking for more help… We expect to receive a similar sum over the next few weeks,” Harwood said both CMP and Versant have Applications have been made to increase this proportion.

The Maine Public Utilities Commission has approved standard bids for Central Maine Power and Versant that will increase electricity rates for most Mainers in 2023.

The offer, approved Wednesday, will increase bills by about $32 per month for average CMP residential customers. That’s a 49% increase in the cost of electricity.

Versant customers will see prices increase by approximately 34%.

The standard supply rate is set by the state, not by the utilities themselves.

Phil Bartlett, chairman of the PUC, said Wednesday that rising natural gas prices and the war in Ukraine are putting pressure on customers.

“Over time, we continue to expect that as we roll out more renewable energy and reduce the impact of natural gas on prices at the margin, more hours in the day and more weeks in the year, we can reduce volatility and reap the benefits to even out prices,” Bartlett said.

“We understand that these increased prices pose real challenges for many Mainers, especially as the cost of gasoline, heating oil, groceries and other basic necessities are also increasing,” said Joseph Purington, President and CEO of CMP. “We’re here to help and encourage any CMP customers who are being asked to pay their bills — now or in 2023 when those rates go into effect — to call us.”

Gov. Janet Mills responded to the rate by saying, in part, “We will prepare a proposal for consideration by the Legislature next month to help the people of Maine with significant hardship caused by high energy prices this winter.”

The Maine GOP also responded, saying, “Mainers are being crushed by rapid increases in the price of essential goods due to high energy costs. Winter is coming, the situation is getting worse and we have to act.”

Maine public attorney William Harwood says Maine residents are preparing for a long, harsh winter.

“Last year when they increased it, we were inundated with calls asking for more help… we expect to receive a similar amount over the next few weeks,” Harwood said.

The second part of your electricity bill is the delivery rate. These costs could also increase next year. Both CMP and Versant have filed motions to increase that percentage.

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