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MPUC Announces Lower Standard Offer Prices for CMP/BHE Customers

Lower Electric Standard Offer Prices to begin in March for CMP and BHE Residential and Small Commercial Customers

January 13, 2009

AUGUSTA, Maine – The Maine Public Utilities Commission today announced the acceptance of bids for new standard offer energy prices that will lower electricity bills for residential and small business customers in Maine. These new bids will be blended with previously-accepted bids, resulting in standard offer prices of 8.9 and 9.0 cents per kilowatt hour (kWh) for Central Maine Power (CMP) and Bangor Hydro-Electric customers, respectively.

The new rates go into effect March 1. The bid prices reflect recent decreases in wholesale electricity prices, as well as lower prices for natural gas, the fuel which makes up the largest portion of the energy supply mix in Maine and the region.

“After several years of rising energy prices, today’s good news is that the new bids will reduce electricity supply prices for most Maine residents and small businesses by roughly 10 percent,” said Sharon M. Reishus, who chairs the Commission. “That’s welcome news, but it’s also further evidence that we are in an era of volatile energy prices – and Mainers should use resources offered at to do all they can to reduce electricity use.”

Under Maine’s retail electric access rules, the PUC must ensure that standard offer service is available to all customers in Maine. The selected prices were chosen following a competitive bid process administered by the PUC, and the names of the suppliers selected will be withheld for two weeks, allowing time for supply arrangements to be finalized.

Standard offer service is the default supply for electricity customers, meaning customers receive it 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 CMP and BHE residential and small commercial customers.

Maine Public Utilities Commission 242 State Street Augusta, Maine 04333-0018 Email: CONTACT: Fred Bever, 207-287-6141