AUGUSTA - On Monday, Gov. Janet Mills signed legislation sponsored by Rep. Gerry Runte, D-York, that directs the Public Utilities Commission to study time-of-use electricity rates.
"LD 542 seeks to move our electric grid in a direction that supports cost effectiveness, clean energy and system resiliency," said Runte. "This measure looks toward the next step of modernizing by utilizing time-of-use rates, giving consumers more control over their electric bills, buoyed by various energy storage device projects currently underway."
The measure directs the Public Utilities Commission (PUC) to study the feasibility of offering time-of-use rates to consumers, who could utilize electricity during off-peak hours at lower times of demand when it is less expensive to produce. The PUC would be required to submit a report summarizing its findings to the Legislature's Energy, Utilities and Technology Committee by Jan. 15, 2024.
"This legislation addresses Maine's energy rate regulatory structure the rules structuring our electric grid to confront how we are going to meet our climate change goals and build a system that can support electrification," said Runte. "LD 542 studies time-of-use rates to begin the process of reforming our antiquated energy delivery model to reflect technological advancements that have made a more economical and environmentally friendly model possible with much of the technology already in place."
The new law will go into effect 90 days after final adjournment of the legislative session.
Runte, a member of the Energy, Utilities and Technology Committee, is serving his first term in the Maine House and represents Ogunquit, Wells and York.
Contact:
Brian Lee [Runte], c. 305-965-2744