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Standard Offer Electricity Prices Hold Firm: Good news in volatile economic times

September 29, 2009

Maine Public Utilities Commission

News Release

FOR IMMEDIATE RELEASE

AUGUSTA, Maine – The Maine Public Utilities Commission today announced the acceptance of bids for new standard offer energy prices for residential and small commercial classes. There were multiple bidders in a vigorous, competitive process. The resulting standard offer prices are 8.8 cents and 9 cents per kilowatt hour for customers of Bangor Hydro-Electric and Central Maine Power respectively—very small percentage changes from the last round of bids.

“After several years of rising energy prices, today’s good news is that the new bids hold prices steady for most Maine residents and small businesses, “said Commission Chair Sharon Reishus.

The new rates go into effect March 1, 2010. The bid prices are consistent with prevailing market conditions and reflect stability in the wholesale market. Under Maine’s retail electricity access rules, the Commission must ensure that standard offer service for electricity generation is available to all customers in Maine. The names of the suppliers selected will be withheld for two weeks, allowing time for supply arrangements to be finalized.

Electricity customers receive standard offer service 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 residential and small commercial customers in the regions where CMP and BHE distribute electricity.


For more information about Standard Offer and Delivery Rates: http://www.maine.gov/mpuc/industries/electricity/standardoffer/standardoffer_rates.html

The Maine Public Utilities ensures that safe, adequate and reliable utility services are available to Maine customers at just and reasonable rates. MPUC programs include Maine Enhanced 911 Service, Dig Safe, and Efficiency Maine. To arrange an interview with Chairman Sharon Reishus, Commissioner Vendean Vafiades or Commissioner Jack Cashman, please contact use contact information on this release. The Commission’s website, www.maine.gov/mpuc may be accessed through the Maine School and Library Network at all public libraries in Maine.


CONTACT: Evelyn deFrees 207-287-6141; 207-485-4243 cell evelyn.defrees@maine.gov