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New Electric Standard Offer Prices for Most Commercial and Industrial Customers Remain Stable

July 27, 2010

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. The participation of several bidders resulted in lively bidding. The new prices go into effect September 1, 2010 and are effective for six months.

For medium and large commercial/industrial customers in the territory served by Bangor Hydro-Electric (BHE), the new standard offer prices are 6.8 cents and 7.8 cents per kilowatt hour (kwh) respectively. In the territory served by Central Maine Power (CMP), the new prices are 7.1 cents and 7.6 cents per kwh for medium and large commercial/industrial customers respectively. These new prices apply to customers who have not negotiated their own power supply arrangements.

“Standard offer electricity prices for most commercial and industrial customers will remain relatively stable—edging only slightly higher with 1-2% increases nearly across the classes starting in September. Though large industrial customers in BHE’s territory will see an 11% increase, for the most part, the overall stability of these new prices will benefit commercial and industrial customers as they plan for electricity costs in the next half year,” said Commission Chair Jack Cashman.

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. The Commission is responsible for soliciting 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. Total electricity sales to these commercial/industrial customers last year were about 5.7 million MWhs, of which 25%-30% currently receives standard offer service.

For more information on standard offer and energy delivery rates, go online to: http://www.maine.gov/mpuc/electricity/rfps/so_solicitations.shtml .


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