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New Electric Standard Offer Prices for Commercial and Industrial Customers

January 19, 2011

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 were multiple competitive bidders in the auction. The new prices go into effect March 1, 2011 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 6.7 and 7.6 cents per kilowatt hour (kWh) respectively—approximately a 2% reduction in price for both. In the territory served by Central Maine Power (CMP), the new prices are 6.8 cents and 7 cents per kWh for medium and large commercial/industrial customers respectively—a 5% and a 7.5% decrease in price for these classes. These new prices apply to customers who have not negotiated their own power supply arrangements.

“Today’s new prices reflect a price reduction of between 2 and 7.5 percent for the medium and large commercial and industrial classes in the service territory of BHE and CMP. This is consistent with steady price reductions over the last three years,” 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 medium and large 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 (which will be updated by the end of today): http://www.maine.gov/mpuc/electricity/standardofferrates/index.html

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