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December 31, 2012

C.N. Brown enters electricity market

C.N. Brown has entered the electricity market, offering to sell power to residential and small-business users for less than the standard offer rate.

C.N. Brown Electricity, which is starting off with under 500 customers, has set its sights on reaching 10,000 customers during its first year, according to the Bangor Daily News. The energy company, which also provides includes gasoline, heating oil, propane, wood pellets and natural gas, plans to offer a five-cent discount to its heating oil customers who choose to buy electricity from the company as well.

The company operates 78 Big Apple food stores, 27 Red Shield Heating Oil locations and 20 gasoline service stations, the newspaper reported.

In mid-September, the Mass.-based fuel supplier Gulf Oil also announced that the company's electricity-providing subsidiary — Gulf Electricity — would enter the wholesale electricity market in Maine, which also includes FairPoint Energy, a subsidiary of the telecommunications company, and Dead River, which began selling electricity in October.

The BDN reported that in areas currently serviced by Central Maine Power Co., C.N. Brown Electricity is offering a rate of 6.81 cents per kilowatt hour, while the rate in areas serviced by Bangor Hydro is 6.689 cents per kilowatt hour. The current standard offer rate per kilowatt hour for small customers in CMP and Bangor Hydro areas are 7.43 cents and 7.13 cents, respectively.

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