Maine small businesses, nonprofits set for $7M in electricity relief
Photo / Renee Cordes
The value of the electricity utility credit for eligible Maine small businesses and nonprofits is based on electricity use as billed on invoices issued by Central Maine Power Co. and Versant in February.
Some 2,919 Maine small businesses and nonprofit organizations are in line to receive a one-time credit of more than $2,000 to help defray electricity costs under a new state law.
The program was created by LD 2010, "An Act to Help Maine Residents with High Electricity Costs," sponsored by state Senate President Troy Jackson, D-Aroostook, and signed into law by Gov. Janet Mills.
The measure aims to help small businesses and nonprofits whose energy bills spiked earlier this year following Russia's invasion of Ukraine.
Funding for the credit is provided through the governor's Maine Jobs & Recovery Plan, through funds allocated by state lawmakers.
In September, qualified medium commercial customers of Central Maine Power Co. and Versant Power were invited to apply to claim their credit. Eligible applicants can expect credits to be applied to their account by Oct.30, according to Tuesday's announcement.
Most eligible small businesses (97%) will receive a credit valued at $2,324. A small number of commercial customers that were billed for using more than 50,000 kilowatt-hours will receive a credit valued at either $4,647.99 or $6,197.32.
The value of the electric utility account credit is based on electricity usage as billed on invoices issued by CMP and Versant in February.
"Increases in the cost of energy are hurting Maine small businesses, and we are stepping up to help,” Mills said in a Wednesday news release. “This utility credit will provide more than $2,000 in relief to help small businesses deal with higher energy prices, delivering a small measure of relief for our business owners. We will continue to do all we can to help Maine businesses and Maine people deal with high costs.”
Deb Neuman, president and CEO of the Bangor Region of Commerce, welcomed the relief measure.
“As I’ve met with businesses across the Bangor region, I’ve consistently heard about how high energy costs are adding a significant burden at a time when many are still recovering from the effects of the pandemic and challenges associated with increased costs of goods and labor shortages,” she said. “I’m grateful that President Jackson and the Mills administration recognized the need for relief from this challenge and worked to make assistance available to the businesses affected the most.”
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