PUC Approves Refund Of $3.2 Million To Default Service Customers
November 7, 2018 Email This Story Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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The Maine PUC has approved Central Maine Power's request to return $3.2 million of over-collected funds to large customers who had previously taken standard offer service
Specifically, the overcollection that is being returned to large customers had resulted from differences between the energy component of the standard offer prices customers paid, which are set in advance of each month based on energy futures prices for the large customer class, and the payments to the standard offer provider, which are based on actual hourly energy prices in the ISO-NE wholesale market.
CMP will provide bill credits beginning in January 2019 to all large customers who took standard offer service for at least one month during the period from March 2012 through June 2018, which reflects the period during which the overcollection accrued. CMP has calculated the proposed customer-specific bill credit amounts by apportioning the $3,266,161 overcollection to each customer based on the customer’s kWh usage during the months each took service under the large class standard offer rate
Some 122 large customers qualify for the credit, with individual credits ranging from $17 to nearly $720,000