Electricity rate changes may loom for customers of Versant, CMP

The 159,000 customers of Versant Power, Maine’s second-largest electric utility, will see changes in the rates they pay, beginning July 1.

The changes affect three of the five rates — for electricity transmission, stranded costs and energy conservation measures — that go into the price of delivering electricity.

Versant said in a news release Tuesday that all customers will see a decrease in conservation rates, driven by a lower funding level assessed for the Efficiency Maine Trust, the state entity that works with Maine customers on energy efficiency and conservation projects.

Transmission rates in Versant’s Bangor Hydro District will increase slightly – equivalent to 1 cent per month for a residential customer – while the transmission rates for the Maine Public District will decrease.

A typical residential customer in the Bangor Hydro District, using 500 kilowatt-hours per month and paying $84.93 for delivery and standard-offer supply, will pay $86.16, a $1.23 increase, according to Versant.

A typical residential customer in the Maine Public District, using 500 kilowatt-hours per month and paying $76.27 for delivery and standard-offer supply, will pay $73.94, a $2.33 decrease.

The Maine Public Utilities Commission is evaluating the company's request for a distribution rate increase, according to the release. If approved, new distribution rates would go into effect no sooner than October 2021.

The state’s largest electric utility, Central Maine Power Co., is also seeking a rate increase. The company is asking the PUC to approve a $72 million hike in transmission and delivery charges, starting in August, according to published reports. That increase could cost a typical residential customer an additional $8.65 a month.