Power prices to drop for big commercial customers
Electricity prices for larger commercial and industrial customers of Central Maine Power Co. and Bangor Hydro Electric Co. are set to decrease 10% from March, according to the Maine Public Utilities Commission. The decrease is for customers who use the standard-offer service.
The commission last week set standard-offer service prices for April, which are also 25%-35% below April 2011's prices. The standard-offer rates are set based on an energy market index and reflect continued low prices in wholesale power and natural gas markets. Prices in April are 3.2 cents per kilowatt-hour for CMP customers and 3.1 cents per kilowatt-hour for BHE customers. Commission Chairman Thomas Welch said the number of large commercial and industrial customers taking standard-offer prices is relatively small, at 5%, since many buy their energy directly in the retail market.
The commission also recently revised the structure of standard-offer service for large commercial and industrial customers to attract more competition from suppliers and more reasonable prices. Under the new structure, customers pay a two-part price made up of an energy charge, which is based on a wholesale power market index, and a capacity charge, based on each customer's peak usage.
Most Recent
Most Recent
Comments