Regulators approve Central Maine Power rate hike

The Maine Public Utilities Commission has approved higher electric rates for Central Maine Power customers.

Under the new rates, which take effect July 1, a typical residential customer using 550 kilowatt-hours of electricity per month should expect an increase of $4.91 per month, according to the PUC.

Philip L. Bartlett II, chair of the commission, said the increase is “driven primarily by storm recovery costs.” To soften the blow, costs associated with storms where damage exceeded $15 million will be spread over a two-year period, according to the PUC.

Other contributors to the increase include renewable energy contracts; net energy billing; adjustments to the Efficiency Maine Trust assessment rates; and changes to transmission service rates, which are set by the regional transmission operator and reviewed by federal regulators, according to the PUC.

From 2014 to 2024, Maine’s electricity rates increased at the third fastest rate in the country, from 12.65 cents per kWh to 19.62 cents over that decade, peaking at more than 20 cents in 2023.