Some Versant Power customers to see rate increases
Courtesy / Versant Power
Electricity transmission rates for some residential customers of Versant Power will change, starting next week.
Versant Power, Maine’s second-largest electric utility, said on Monday some of its residential customers will see increases in their electricity bills starting next week.
Customers in the company’s Bangor Hydro District will pay an average of about 56 cents more per month because of an increase in the power transmission rate, according to a news release.
That rate is one of five that determine Versant’s residential electricity charges. The company said the rate change “reflects the costs needed to continue to invest in improvements to our system that increase its safety and reliability.”
Bangor Hydro District customers usually see transmission rate changes each July. The rates are regulated by the Federal Energy Regulatory Commission and updated annually based on a preset formula.
FERC approved a transition to the new rate, effective Jan. 1, based on input from stakeholders, according to Versant.
Commercial customers in the Bangor Hydro District will see an increase in their transmission rate dependent on their rate class. Customers in Versant's Maine Public District will not see changes at this time, the release said.
Versant Power serves 159,000 customers in northern and eastern Maine. The company, formerly Emera Maine, is owned by Enmax Corp., based in Calgary, Alberta. Emera Maine was formed in 2010 from the merger of Bangor Hydro and Maine Public Service Co., both of which were subsidiaries of Emera Inc., a Halifax, Nova Scotia-based utility holding company.
Most Recent
Most Recent
0 Comments