The new "standard offer" supply rates for residential and commercial customers of CMP and Versant were set through a competitive bid process conducted by the Maine Public Utilities Commission.
The controversial plan would have increased the average residential customer’s monthly bill by $35 over the next five years to finance power grid upgrades and the hiring of hundreds of line workers.
Ahead of public hearings before the Maine Public Utilities Commission, Gov. Janet Mills said the proposed rate increase “blatantly ignores” the economic reality that Maine residents face every day.
Linda Ball, who has served as CMP’s vice president of customer service since 2019, has taken the reins as president of Maine's largest utility, succeeding Joe Purington, who has been named CEO of Avangrid Networks.
The plan, which includes hiring 200 new lineworkers to install, maintain and repair power lines damaged by extreme weather, requires approval from the Maine Public Utilities Commission.