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Emera Maine Customers to Benefit from Lower Electric Supply Rates Starting January 1, 2020

November 12, 2019

MPUC Sets New Standard Offer Electricity Price with an 18% Decrease for Residential and Small Businesses; 21% Decrease for Medium Businesses

Hallowell, Maine - November 12, 2019 Residential and business customers of Emera Maine (Bangor Hydro District) will pay lower rates for electricity supply throughout 2020, as a result of the Maine Public Utilities Commission's competitive bid process for setting Standard Offer Supply prices. For typical residential bills based on 500 kWh monthly usage, the anticipated monthly savings will be $7.45, or just under $90 annually. Monthly bills are expected to drop from about $89.05 a month to $81.60 a month, an 8.4% percent decrease. "Locking in a lower price of a basic necessity for 2020 helps both residents and business owners better manage tight budgets," Chairman Philip L. Bartlett II said. Lower prices are especially welcome news as we enter winter and a period of typically higher electrical usage. Multiple bidders submitted sealed proposals in the Commissions annual competitive process for setting Standard Offer Electricity Supply Prices. The Standard Offer accounts for approximately 60 percent of sales in Emera Maines service area. The pricing is summarized in the chart below and affects only those customers who opt for Standard Offer Supply Service. Emera - Bangor Hydro District 2019 2020 % Decrease Residential/Small Business Standard Offer Supply Price 8.37 /kWh 6.88 /kWh 18% Typical Residential Total Bill (assumes 500 kWh monthly usage) $89.05/month $81.60/month 8.4% Medium Business Customers Annual Average Supply Price 9.03 /kWh 7.09 /kWh 21%

For Emera Maine Medium Business Customers, the new prices differ by month, ranging from 5.3 /kWh in June to 10.8 /kWh in January. On an annual average basis medium businesses will see a 21% decrease. Prices for large business customers will be indexed to market prices and set in advance of each month, as was done last year for large business standard offer service. The prices above do not apply to customers who purchase their own electricity supply in the market. The names of the suppliers selected for Emera Maine will be released in two weeks, allowing time for power supply arrangements to be finalized. Background: Electricity customers in Maine receive standard offer service if they have not purchased supply from another retail supplier or through an aggregator. Currently, standard offer service represents about 60% of the supply used by Emera Maine customers. Maine law requires the Commission to ensure that standard offer service for electricity supply is available to all customers in Maine. The Commission arranges for standard offer service through periodic competitive bid processes. For more information on standard offer service prices: http://www.maine.gov/mpuc/electricity/standardofferrates/index.html

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About the Commission 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. Philip L. Bartlett serves as Chairman, Bruce Williamson and Randall Davis serve as Commissioners.

Learn more about the Commission at www.maine.gov/mpuc

Press Contact Name: Harry Lanphear, Administrative Director Phone: (207) 287-3831 Email: Harry.Lanphear@Maine.gov