AUGUSTA, Maine (WGAN) Maine utility regulators say many power customers in the northern and eastern parts of the state can expect to see rates increase by more than 88% starting next year.
Versant Power serves more than 164,000 customers. On Tuesday, Maine’s Public Utilities Commission said the average residential customer using Versant’s standard offer can expect to see a rate increase of about $30 per month starting on January 1st.
It came after the Maine Public Utilities Commission on Tuesday selected bids for standard offer rates.
The commission says the increases reflect prevailing energy market conditions and the influence of natural gas on prices in the regional market.
“Unfortunately, sharp increases in natural gas prices are resulting in higher electricity supply costs for the upcoming year. This increase is primarily driven by New England’s wholesale electricity market prices which have increased dramatically,” said PUC Chair Phil Bartlett.
The governor’s office issued a response on Tuesday, pinning the increase on New England’s “over-reliance on natural gas to power its electric grid.”
“While Maine electricity prices are typically lower than other New England states, these price increases are being driven by volatile global energy markets and will cause too many Maine people to reach deeper into their pockets this winter to pay their bills,” said Dan Burgess, Director of the Governor’s Energy Office.
