Boost in electricity rates likely
When the Maine Public Utilities Commission sets electricity prices for small and medium-sized businesses next week, all signs point to a jump in the cost of power.
The PUC’s standard offer rate, which is set twice a year, takes into account changes in the cost of generating power. Since the bulk of power stations in Maine and New England are fueled by oil or natural gas, increased costs for those fuels are likely to be passed along to electricity consumers, according to Statehouse News Service.
The PUC will receive bids from suppliers next Tuesday, July 29, and the PUC will announce the standard offer rate that day, Statehouse News Service reports. Those changes will take effect in September. Meanwhile, the standard offer rate for residential customers won’t change until early next year.
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