How Much Money Will The Average Maine Resident Will Begin Saving on Their CMP Bills?

It's a wicked pain in the butt being an adult and having to pay bills, isn't it? I mean, we kind of knew what we were getting ourselves into by growing up, but it doesn't make it any easier or fun.

Every month we get our pile of bills that come in either by mail or electronically and, at least for the last several years, it seems all of those bills have been steadily increasing, especially when it comes to our electric bills.

One of the most contentious recent increases has been our Central Maine Power bill. So contentious in fact, that the increases have been front page news and caused an influx of phone calls to representatives at Maine's Public Utilities Commission.

Fortunately, at least for Central Maine Power Customers, there is a reprieve on the horizon.

According to WGME 13, Central Maine Power's most recent bid on their "standard offer" has gone down after steadily increasing over the last few years.

WGME is reporting that thanks to pricing changes with both natural gas and electricity transmission rates, Central Maine Power was also able to adjust the rates they charge to deliver electricity to Maine homes and businesses.

But how much will the average Maine resident save when the rates officially drop on January 1, 2024?

Well, let's just say that for most Mainers anyway, it should be immediately noticeable.

WGME reports that between the drop in both delivery and supply rates heading into the new year, the average Central Maine Power customer should see a combined decrease of about $35 a month.

That may not sound like a bunch of money, but over a year, that equates to about $420 in savings.