Electricity rates to drop in 2024 for many Mainers

By Murray Carpenter, Maine Public

After a series of electricity rate hikes, some Maine ratepayers will see some relief starting in January.

The Maine Public Utilities Commission on Tuesday announced the new standard-offer rate for Versant Power customers in Hancock, Piscataquis and Washington counties and most of Penobscot County.

“The standard offer rate for 2024 is about 30 percent lower than current rates,” the commission’s chair, Phil Bartlett, said. “This will save the average residential customer approximately $23 per month, beginning next year.”

On Wednesday, the utilities commission will announce the standard offer rate for customers of Central Maine Power and for Versant customers in northern Maine.

Earlier this year, the utilities commission approved significant rate hikes for the delivery portion of the bills, for both Versant and CMP customers.

This article appears through a media partnership with Maine Public.