Central Maine Power Residential, Small Commercial Default Service Rate Increasing Nearly 14%

The Maine PUC has approved new Standard Offer rates for customers at Central Maine Power (CMP), with the residential and small commercial Standard Offer rate increasing nearly 14%.

The new CMP residential and small commercial Standard Offer rate will be $0.090029/kWh for the 12-month period beginning January 1, 2019, nearly 14% higher than the current rate of $0.0792063/kWh

Medium C&I Standard Offer rates at CMP will be as follows ($/kWh):

Jan-19   $0.140956
Feb-19   $0.142108
Mar-19   $0.112984
Apr-19   $0.086362
May-19   $0.074356
Jun-19   $0.066070
Jul-19   $0.070408
Aug-19   $0.068864
Sep-19   $0.065930
Oct-19   $0.067086
Nov-19   $0.076486
Dec-19   $0.102844

Standard Offer prices for large business customers will be indexed to market prices and set in advance of each month, as done currently

The names of the Standard Offer suppliers selected for CMP will be released in two weeks, allowing time for power supply arrangements to be finalized.

The PUC also recently approved new Standard Offer rates for 2019 at Emera Maine – Bangor Hydro District (BHE), with the residential and small commercial Standard Offer rate increasing nearly 16% (see our story on the new BHE rates here)