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January 13, 2011

Power rates for northern ME to drop

By The Mainebiz News Staff

Standard offer electricity rates for residential and business customers in northern Maine are scheduled to drop by double-digit percentages.

The new standard offer price for residential, small commercial and medium commercial customers in Maine Public Service's territory is 7.3 cents per kilowatt hour, while the price for large industrial users is 9 cents per kilowatt hour, according to a press release from the Maine Public Utilities Commission. The prices are a 15% drop for the residential and small business class, a 21% drop for the medium commercial class and a 10% decrease for larger industrial users. The prices are effective March 1 and will be in effect for a three-year term.

The standard offer applies to about 75% of the electricity used by customers in Maine Public Service's distribution region in northern Maine, according to the release. Maine & Maritimes Corp., parent company of Maine Public Service, was recently acquired by Canadian utility and Bangor Hydro Electric Co. parent company Emera Inc.

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