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MPUC: Standard Offer Electricity Supply Prices Decrease for Maine Public Service Territory Customers

January 13, 2011

Augusta, Maine—Today the Maine Public Utilities Commission announced new energy supply prices for all standard offer service customers in Maine Public Service’s service territory. The new standard offer price for both the residential and small commercial class and for medium commercial class is 7.3 cents per kilowatt hour (kWh) fixed for the three year term. The new standard offer price for the large industrial class is 9 cents per kWh in the first year moving to just over 10 cents in the second and third year of the term. The prices will be in effect for a three-year term and represent over a 15% reduction in price for the residential and small commercial class, over 21% reduction for medium commercial class, and for the large industrial class, an over 10% decrease in first year of the term.

“It is good news that these new standard offer prices in Maine Public Service territory represent sharp reductions in cost for northern Maine ratepayers,” said Commission Chair Jack Cashman.

The new prices will be in effect beginning March 1st, 2011. The names of the suppliers selected will be withheld for two weeks, allowing time for supply arrangements to be finalized. Customers with their own energy supply arrangements that do not receive standard offer service are not affected by these changes.

Background Under Maine’s retail electricity access rules, the Commission must ensure that standard offer service for electricity generation is available to all customers in Maine. Electricity customers receive standard offer service if they have not purchased supply from another retail supplier or through an aggregator. Regulated by the Commission, Maine Public Service is an electric transmission and distribution utility serving customers in the northern Maine area. Currently, standard offer service supplies about 75%of the electricity used by customers in the region where Maine Public Service distributes electricity. For more information about standard offer and delivery rates (updated information regarding today’s auction will be available before the end of the day): http://www.maine.gov/mpuc/industries/electricity/standardoffer/standardoffer_rates.html

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The Maine Public Utilities Commission regulates electric, telephone, water and gas utilities to ensure that Maine citizens have access to safe and reliable utility service at rates that are just and reasonable for all ratepayers. Commission programs include Maine Enhanced 911 Service, and Dig Safe.

Contact: Evelyn deFrees, 207-287-6141 or evelyn.defrees@maine.gov