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MPUC Approves Standard Offer Price Decrease for CMP and BHE Commercial and Industrial Customers
January 25, 2012
Augusta, Maine—The Maine Public Utilities Commission accepted bids and set new prices today for standard offer electricity supply service for medium commercial and industrial (C&I) customers of Central Maine Power (CMP) and Bangor Hydro Electric (BHE) Companies. The new prices are effective for a six-month term beginning March 1, 2012. The Commission expects to receive standard offer service bids for the large C&I classes within the next few weeks.
The medium C&I customer bids accepted today reflect average prices over the term of 5.5 cents/kWh for CMP customers and 5.3 cents/kWh for BHE customers, which are 23% and 27% lower than current standard offer prices, respectively. These prices apply only to customers that are not purchasing their own electricity supply in the market.
“The bids accepted today reflect underlying market conditions and the results of a competitive auction process”, according to Commission Chairman Thomas Welch. “Maine’s market structure permits customers to benefit quickly from falling market prices.” Welch noted further that, based on last year’s usage, the reductions represent savings for Maine businesses of about $9.3 million over the six-month service term.
For more information on standard offer service prices: http://www.maine.gov/mpuc/electricity/standardofferrates/index.html
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: Karen Geraghty (207)287-3831
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