Electricity prices for small commercial customers of Bangor Hydro Electric and Central Maine Power Co. will see their prices drop in March.
The Maine Public Utilities Commission yesterday accepted bids from electricity suppliers for new standard-offer service prices for the utilities’ residential and small business customers, according to a press release. The new prices, which are effective March 1, 2012, are 7.4 and 7.1 cents per kilowatt-hour for CMP and BHE customers, respectively. Customers will see their bills decrease between 6.2% and 6.5%, with a total electricity cost reduction of $50 million next year.
PUC Chairman Tom Welch attributed the reduced rates to “a robust auction process.” The new standard-offer service prices will be in effect for one year. Electricity customers receive standard-offer service if they have not purchased supply from another retail supplier or through an aggregator, and 95% of residential and small commercial customers in CMP and BHE’s regions use the standard offer.
