Versant Power is getting a green light to raise distribution rates on customers, just two months after its supply rate went up.
The Maine Public Utilities Commission announced Tuesday it has approved an increase of 23.2 percent in Versant’s distribution rate.
The hike means a typical customer using 500 kilowatt-hours of electricity per month will see an increase of $11.15 in their monthly bill.
The PUC says it rejected Versant’s originally-proposed increase of 26 percent.
Versant cited millions in already approved recovery costs of $6.6 million, system improvements, increased payroll expenses, expanded vegetation mitigation efforts, and inflation as the need for the rate hike.
The Commission says it weighed those factors in its decision along with customer concerns about affordability,
“The Commission understands that rate increases place a burden on customers, and we take those concerns very seriously,” said Commission Chair Philip L. Bartlett II. “Versant Power needs to make critical improvements to its infrastructure and operations, but it must also manage the pace of growth given concerns about affordability.”