Utility's Default Service Rate Increasing 41% For Residential, Small C&I Customers

The Maine Public Utilities Commission (Commission) accepted bids and set new Standard Offer electricity supply rates today for residential and business customers of Versant Power, Bangor Hydro District (BHE).

For Versant-Bangor residential and small non-residential customers, the Standard Offer price will be $0.16438 per kWh for the 12-month period beginning January 1, 2023, 41 percent higher than last year's rate of $0.116840 per kWh

For Versant-Bangor Medium Business Customers, the new prices vary by month, averaging 15.8 cents per kWh. Versant medium-class businesses will see an average 43% increase annually in the supply portion of their bill.

The Versant-Bangor medium SO rates are below ($ per kW):

Jan-23     $0.30093 
Feb-23     $0.29175 
Mar-23     $0.18795 
Apr-23     $0.12244 
May-23     $0.10242 
Jun-23     $0.10277 
Jul-23     $0.11370 
Aug-23     $0.11812 
Sep-23     $0.09358
Oct-23     $0.09561 
Nov-23     $0.14135
Dec-23     $0.21469 

The Standard Offer prices for Versant BHD’s large non-residential class will be indexed to wholesale market prices and will be set in advance of each month.