EXCERPTS
6/13/23
Maine regulators approved another big hike to electricity bills Tuesday for customers of the state’s major utilities, driven by solar subsidies that have been criticized by the state’s ratepayer advocate in recent weeks.
The Maine Public Utilities Commission said the $135.7 million in new increases it approved from July 1 through mid-2024 cover so-called stranded costs, which are the impacts of long-term contracts for renewable power and net energy billing programs on Central Maine Power and Versant Power.
The increases come on the heels of both companies getting approval to raise distribution rates in stages starting on July 1. The new stranded rates result from residential and community solar projects with above-market costs. Public Advocate William Harwood said in April that those policies will cost $220 million by 2025, prompting criticism from the solar industry.
The new rates including the stranded costs will also be effective July 1. CMP customers will see an increase of about 5.8 percent, or $5.95 on average, to their monthly electric bill, the commission said. It said Versant Bangor Hydro District will see a rise of 9.3 percent, or $8.77 monthly, and Versant Maine Public District will increase rates about 6.5 percent, or $5.47 per month.
That amounts to a total of $95 million that CMP can collect from customers from July 1, 2023 through June 30, 2024, according to the utility regulator.....................................
..........................“As with the recent distribution rate increase, we understand that any increase is not ideal and comes at a time when people are already impacted by inflation,” Maine Public Utilities Commission Chair Philip Bartlett said.
He said it is important to realize that a short-term increase will reduce the state’s dependence on fossil fuels. Community solar projects can help drive down costs over the long term, he said................
BDN writer Michael Shepherd contributed to this report.
Read the full article here:
https://www.bangordailynews.com/2023/06/13/business/maine-electric-...
Maine PUC approves rate hikes for electricity, natural gas utilities
Published June 13, 2023 at 5:25 PM EDT
The electricity rate increases are for so-called stranded costs, which include those associated with the controversial net energy billing program that supports solar projects.
Starting July 1, the rate increases will be about $6 per month for CMP customers, and from $5.50 to nearly $9 for Versant customers. These increases come atop those recently approved by the commission, which will cost about $5 per month over the next two years for CMP customers, and about $10 per month for Versant customers.
PUC chair Phil Bartlett noted that the numbers are adding up.
"The timing of this increase is understandably challenging for customers as they face high electricity supply costs," Bartlett said, "as well as higher costs in other areas of the economy."
The commission also approved a 33% distribution-rate increase for customers of Summit Natural Gas.
https://www.mainepublic.org/business-and-economy/2023-06-13/maine-p...
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