According to the Kennebec Journal, another Central Maine Power rate increase, that was settled on by the Office of the Public Advocate and CMP, has been approved by the Public Utilities Commission.

Though the increase isn't exactly all that Central Maine Power had initially been asking for, the KJ reports that the agreement will see power bills increase by 1% beginning next month (July) with an overall increase of an additional 5% by the year 2025.

What does that mean for the average homeowner in Maine?

The Kennebec Journal is reporting that starting next month, the average Maine home will see an increase in their bill of about $1.67, and by July 2025, those bill increases will likely be north of $6 per month, even though the rate is slated to fall in July 2025 (by less than 1%).

These numbers, according to the KJ, reflect that of a Maine home with an average bill of $148 and using approximately 550-kilowatt hours per billing cycle.

This will afford Central Maine Power an estimated additional $50.25 million in the next 2 years, according to the newspaper, however, it is still significantly less than what they were asking for, which was $90-$105 million.

Philip Bartlett, the Chair of The Maine Public Utilities Commission, told the Kennebec Journal in part;

“This settlement, is significantly lower than the initial $98 million that CMP requested and really balances the impact on CMP customers with the need to invest in the electric grid to meet reliability needs and Maine’s clean-energy goals.”

As part of the settlement, the Maine Public Utilities Commission says they have implemented the 'strictest service quality standards' they have ever ordered and, if those standards are not maintained, it could cost Central Maine Power a whopping $8.8 million a year in monetary penalties, according to the KJ.

If you're confused by all of the rate changes, increases and requests for increases, you're not alone. The Maine Public Utilities Commission spends much of its time taking phone calls from concerned citizens around the state as well as from people who are looking for a reprieve from their increasing electricity bills.

And, while the PUC is responsible for regulating more than just CMP, it has seemingly devoted much of its time to fielding phone calls from the customers of Central Maine Power.

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