State warns of high electricity rates this winter
The Maine Public Utilities Commission and other groups are advising homeowners and mid-sized businesses to brace for higher electricity prices this winter.
The Portland Press Herald reported that mid-sized businesses could face as much as a 130% increase in energy costs by January. Under that scenario, an $870 electricity bill in September could increase to $2,000 by the beginning of next year.
Maine consumers on the standard-offer electricity plan will also see their rates increase from 6 cents per kilowatt hour in October to 15 cents in the first month of 2014.
The anticipated spike in electricity costs is attributed to New England’s lack of pipeline capacity for natural gas, which provides electricity for half of the region, the newspaper noted. When the natural gas supply is squeezed, prices begin to climb.
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