Maine state utility regulators are expecting to see rate increases for another year.
It’s another hit to wallets for anyone who pays an electric bill in Maine.
The Maine Public Utilities Commission (PUC) says an average Central Maine Power customer will pay 26% more on each bill beginning on January 1, 2023.
Customers of the state’s other major electric utility, Versant Power, can expect to pay 18% more.
That follows increases in "standard offer" rates a year earlier that were around 83% higher for residential CMP customers consuming average levels of power and around 88% higher for Versant customers.
"The average customer will see their bill go from about $123.00 to $155.00," said Patrick Scully, one of the commissioners on Maine’s PUC.
Like other New England states, Maine relies heavily on natural gas for electricity generation in the winter, and a worldwide volatility in its supply is driving price increases.
"I think the point at which we became very concerned was when the Russian invasion of Ukraine took place," said Scully, noting that the war had a significant impact on the natural gas market.
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During a Thursday interview with NECN/NBC10 Boston, Scully also suggested that anyone paying an electricity bill in Maine who needs assistance reach out directly to their utility and look at information related to resources on the Maine PUC’s website.
"They’re really the connection point for various programs," Scully said of the utilities, adding that, "those programs have been beefed up somewhat this year, partly in anticipation of the rate increases."
As for a solution that stabilizes or reduces natural gas prices, Scully said that an end to the war in Ukraine would make a major impact but that there is no certainty that it will happen soon.
The controversial transmission corridor that would have brought Canadian hydropower on lines through Maine to Massachusetts and the New England grid, which is facing legal and political hang-ups, is also not a quick fix for the problem either.
"If it were operating and in place today, it would’ve had a dampening effect," said Scully of the corridor’s effect on prices.
"It would’ve meant that natural gas would be running less often," he explained.
Instead, Scully sees Maine’s investments in solar and wind energy, along with other renewable energy policies, as the most straightforward path to leveling out prices in the state.
He expects that bit by bit they will make an impact.
"They tend to provide more stability in pricing," he said.
