Maine regulators yesterday approved a substantial decrease in electricity rates for business customers of Central Maine Power Co. and Bangor Hydro-Electric Co.
The changes will affect medium and large commercial and industrial customers who use the companies’ standard offer prices, according to a press release from the Maine Public Utilities Commission. CMP medium business customers will see a 43% rate decrease, and large business customers will see a 33% rate decrease. Rates for Bangor Hydro medium business customers will drop 44%. There were no final bids to supply standard offer service for Bangor Hydro’s large business customers, according to the release.
The rates, which go into effect March 1 and extend for six months, will affect about 9% of CMP and Bangor Hydro’s large business customers, and about 58% of their medium business customers.
