Maine Small Customer SOS Rates Falling 25-35%

November 29, 2023

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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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The Maine PUC has reported certain information concerning electricity Standard Offer rates for the period beginning January 1, 2024

For the Central Maine Power residential and small commercial class, the new Standard Offer rate will be approximately 10.84 cents per kWh on January 1, 2024, which is 35% lower than the current rate of approximately 16.63 cents per kWh

For the Versant Power, Bangor Hydro District (BHD) residential and small commercial class, the new Standard Offer rate will be approximately 10.76 cents per kWh on January 1, 2024, which is 30% lower than the current rate of approximately 15.44 cents per kWh

For the Versant Power, Maine Public District (MPD) residential and small commercial class, the new Standard Offer rate will be approximately 11.29 cents per kWh on January 1, 2024, which is 24% lower than the current rate of approximately 14.88 cents per kWh

The PUC did not explicitly state in a news release the period of time during which the new small customer SOS rates will be in effect (six months vs one-year)

The PUC did not list monthly prices for medium commercial customers in a news release, and the new prices have not yet been posted to the PUC's website. The PUC's orders approving the new SOS rates remain entirely confidential as of publication time

The Standard Offer prices for the large non-residential class at CMP will be indexed to wholesale market prices and will be set in advance of each month. The Standard Offer prices for the Versant BHD large non-residential class will be indexed to wholesale market prices and will be set in advance of each month.

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