CMP seeks $2 rate boost in 5-year plan
Central Maine Power Co. has asked regulators to approve adding nearly $2 a month to its average home bill in the company's latest five-year rate case.
The Portland Press Herald reported the rate increase would fund distribution upgrades and billing systems to improve reliability and offer new pricing options for off-peak energy use.
In a separate case, the company will ask regulators to approve adding another $1.90 to the average home bill to recover installation costs for 615,000 "smart meters" around the state.
The paper reported that the company's latest five-year plan proposal, to be filed with the state's Public Utilities Commission today, also asks the state to "decouple" its sales of electricity as a commodity and its revenue, a system that has a disincentive for reducing overall power consumption.
Details of CMP's five-year plan, covering the years 2014 through 2019, will be deliberated by state regulators over the next year, the paper reported.
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