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Central Maine Power to raise electric rates 17 percent.
Byline: Tux Turkel
Dec. 15--Electric rates will rise in March by nearly 17 percent for homes and small businesses served by Central Maine Power Co.
It's the first substantial rate increase since Maine restructured its electric power industry in 2000.
The increase will hike the average homeowner's monthly bill by roughly $10.50, from $61 to $71.50.
The rate change was set in motion Tuesday, after the Maine Public Utilities Commission accepted bids for a new standard-offer energy contract, the power supply used by the vast majority of Maine home customers. The existing contract, which has been in force for three years, expires in February.
The same high petroleum and natural-gas prices that have frustrated drivers and heating customers this year also have rippled through the wholesale electricity market, where the fuels are …
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Source: HighBeam Research, Central Maine Power to raise electric rates 17 percent.
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