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Central Maine Power says rates will decrease next month

June 14, 2022 GMT

PORTLAND, Maine (AP) — Central Maine Power said customers are going to get a break on their bills starting next month.

Electric rates will dip 5.5% on July 1 as part of the company’s rate reconciliation and adjustment process, the company said Tuesday.

That amounts to about $3.40 per month for a typical customer, helping to offset a $30-per-month increase in the “standard offer” rate on Jan. 1.

“This is welcome news for many Mainers as they face increasing costs across the board,” said Joe Purington, CMP president and CEO.

Electric bills are divided into two parts, the transmission portion which goes to CMP, and the electricity portion that goes to producers. The latter has been driven up by higher natural gas rates.

Dan Burgess, director of the governor’s energy office, said renewable energy played a role in CMP’s rate decrease.

“These savings from renewable energy couldn’t come at a better time for Maine people, who are experiencing a significant increase in utility bills stemming from volatile global energy markets and our region’s over-reliance on natural gas to generate electricity,” he said.