The Maine Public Utilities Commission has approved a rate increase in 2022 for residential customers of CMP, beginning in January.

Just like Versant customers, Central Maine Power customers will be paying an additional $30 per month. This change applies to customers who receive standard offer service, as opposed to purchasing electricity from a competitive supplier of their choosing. Earlier this week, Versant customers received the same increase from the Maine PUC.

The $30 represents an increase of about 83% in supply rates, which the Chairman of the Maine Public Utilities Commission, Philip L. Bartlett, says is competitive.

This increase is primarily driven by New England's wholesale electricity market prices which have increased dramatically.

These new Standard Offer supply rates are the results of a competitive bidding process conducted by the Public Utilities Commission, as required by state law. PUC officials say the increase is strongly influenced by natural gas which, among other energy sectors have seen the following increases:

  • Natural Gas 94.80% increase Oct. 2020-Oct. 2021
  • Heating Oil 121.7% increase Oct. 2020-Oct. 2021
  • Wholesale Electricity 126.3% increase Nov. 2020-Nov. 2021
  • Standard Offer 77% increase Nov. 2020-Nov. 2021

Electric bills are split into two components: electricity supply and delivery. The Standard Offer Supply Rate is just one portion of the bill and is the one that has been approved for the increase.

When the electric industry restructured in 2000, utilities were required to sell their electricity generating assets and therefore no longer supplied the electricity. They do, however, maintain the infrastructure that delivers the power to the substations, large transmission lines, distribution lines, utility poles, and meters that connect to their customers' homes and businesses.

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