Retail Supplier Returns Customers to Default Service, Exits Market

Citing an inability to assure customers of savings in the future due to a gas-constrained and potentially volatile ISO New England market, Dead River Company, a Maine retail electric supplier, returned its customers to default service in December 2014, and has now relinquished its Maine electric supplier and aggregator licenses (for both the DR Power, LLC and Dead River Company entities)

In a letter sent to customers last fall, Dead River Company explained that:

"In October 2012, we entered the electricity supply business to offer our customers an electric thermal electricity supply rate that was less than the Standard Offer - saving you approximately 6% on your monthly electricity supply bill.

"Since then, the escalating cost of natural gas has contributed to the increased cost of electricity. As a result, many electricity supply providers increased their rates to levels above the Standard Offer, costing consumers more on their energy bills. Dead River Company upheld its promise to offer you savings by keeping our rates below the Standard Offer.

"Because the cost of electricity is predicted to increase again, we cannot guarantee savings below the Standard Offer beyond December. After careful consideration, as of January 1, 2015, Dead River Company will no longer offer electricity supply as part of our offering of products and services. As of your December meter reading date, we will seamlessly transfer your account back to the Standard Offer provider for your utility area."