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New Electric Standard Offer Prices Begin in March for Commercial and Industrial Customers
January 27, 2010
Public Utilities Commission
For Immediate Release
Augusta, Maine—The Maine Public Utilities Commission today accepted bids for new standard offer energy supply prices for Maine medium and large class commercial and industrial customers. There was vigorous bidding among the multiple bidders. The resulting standard offer prices are 6.7 and 7.0 cents per kilowatt hour (kwh), respectively, for medium and large commercial and industrial ratepayers in the territory served by Bangor Hydro-Electric (BHE). For customers of Central Maine Power (CMP), the new prices are 7.0 and 7.5 cents per kwh for medium and large classes, respectively. The new prices go into effect March 1, 2010 and are effective for six months. These new prices apply to customers who have not negotiated their own power supply arrangements.
“These prices reflect the lowest bids received in today’s process. Standard offer prices will remain relatively stable for most customers, and for large customers of BHE, the new prices reflect a significant decrease.” said Commission Chair Sharon Reishus. “Today’s bids are in line with current market conditions, and the process was sufficiently competitive with multiple suppliers competing to serve each of the classes.”
For BHE territory medium class customers, the new prices reflect a 3% decrease and for large class customers, the standard offer prices will decrease by almost 16%, good news for this class. For CMP territory customers, the standard offer prices reflect increases of 3.5% for medium and 8.5% for large customers. The names of the suppliers selected will be withheld for two weeks, allowing time for power supply arrangements to be finalized.
Background: Maine’s retail electricity access rules require the Commission to ensure that standard offer service for electricity supply is available to all customers in Maine. It is the Commission’s responsibility to solicit standard offer service from licensed competitive electricity providers through a competitive bid process. Electricity customers receive standard offer service if they have not purchased supply from another retail supplier or through an aggregator. Currently, standard offer service supplies about 99% of the electricity used by residential and small commercial customers in the regions where CMP and BHE distribute electricity. For more information on standard offer and energy delivery rates, go online to http://www.maine.gov/mpuc/electricity/index.shtml.
Contact: Evelyn deFrees, 207-287-6141 firstname.lastname@example.org
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