PUC jacks commercial electricity rates
Maine's Public Utilities Commission yesterday approved double-digit electricity rate increases for medium and large commercial and industrial customers of Bangor Hydro-Electric Co. and Central Maine Power Co.
For six months starting Sept. 1, standard electricity prices will increase 23% and 32% for CMP's medium and large commercial customers, respectively. Standard electricity prices for Bangor Hydro's medium and large commercial customers will increase 21% and 20%, respectively. Prices for residential and small commercial consumers won't change through February 2009.
"Energy costs are going up for Maine's businesses, as they are for everyone," PUC Chair Sharon Reishus said in a press release. "Wholesale electricity costs are rising, in large part because of the increase in fuel costs for natural-gas fired power plants."
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