Power rates for small businesses to drop
Small businesses and residents will see standard offer electricity prices decrease 6% beginning in March.
The Maine Public Utilities Commission Wednesday announced new standard offer energy prices of 8.25 cents per kilowatt hour for residents and small commercial customers in Bangor-Hydro Electric's service area and 8.5 cents per kilowatt hour in Central Maine Power Co.'s service area, according to a press release. The PUC reported multiple bidders and "vigorous" competition in the annual standard offer auction, but won't release the names of the suppliers selected until supply arrangements are finalized in two weeks.
The rates are effective for one year beginning March 1. The standard offer applies to more than 95% of electricity used by residential and small commercial customers in CMP's and BHE's service areas.
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