Maine Residential, Small C&I Default Service Rates to Increase Over 10%

The Maine PUC has set new Standard Offer electric rates for customers at Central Maine Power and Bangor Hydro-Electric (Emera Maine – BHE) for the 12-month period beginning March 1, 2014.

For residential and small C&I customers at CMP, the Standard Offer rate is 7.5603¢/kWh for the 12-month period beginning March 1, 2014. The new rate is a 10.8% increase over the current price, the PUC said.

Standard Offer rates for small volume CMP customers on the Time of Use rate option can be found on the PUC's website (click here)

For residential and small C&I customers at BHE, the Standard Offer rate is 7.5760¢/kWh for the 12-month period beginning March 1, 2014. The new rate is a 13.2% increase over the current price, the PUC said.

For medium commercial and industrial customers, the new rates are as follows:

CMP Medium C&I ($/kWh)
Mar-14    $0.09476
Apr-14    $0.07209
May-14    $0.06182
Jun-14    $0.07360
Jul-14    $0.07490
Aug-14    $0.07109
Sep-14    $0.06136
Oct-14    $0.06216
Nov-14    $0.08673
Dec-14    $0.11989
Jan-15    $0.14956
Feb-15    $0.14438

BHE Medium C&I ($/kWh)
Mar-14    $0.10245
Apr-14    $0.07495
May-14    $0.06462
Jun-14    $0.07603
Jul-14    $0.07730
Aug-14    $0.07299
Sep-14    $0.06234
Oct-14    $0.06291
Nov-14    $0.08863
Dec-14    $0.12416
Jan-15    $0.16046
Feb-15    $0.15492

The PUC said that Standard Offer bids accepted for large customers are indexed to the market, and prices will be set by the PUC in advance of each month based on then-current market prices