Power prices to fall for medium-sized businesses
Electricity prices for medium-sized businesses in Central Maine Power Co. and Bangor Hydro Electric Co.’s service areas will see their prices fall more than 20% beginning March 1.
The Maine Public Utilities Commission accepted bids and yesterday set new prices for standard-offer electricity supply service for medium commercial and industrial CMP and BHE customers, according to a press release. Average prices over the six-month term will be 5.5 cents per kilowatt-hour for CMP customers and 5.3 cents per kilowatt-hour for BHE customers, which are 23% and 27% lower than current standard-offer prices, respectively. Electricity customers receive standard-offer service if they have not purchased supply from another retail supplier or through an aggregator. Currently, standard-offer service represents about half of the supply used by CMP and BHE medium commercial and industrial customers.
The commission expects to receive standard offer service bids for the large commercial and industrial users within the next few weeks. In December, it set new standard-offer prices for residential and small business customers, also effective March 1, that were a 6.2%-6.5% savings.
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