Versant’s rate increase is actually higher than originally stated

Published: Oct. 20, 2022 at 5:06 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

BANGOR, Maine (WABI) - A few weeks after notifying customers of a potential rate increase, Versant Power says it’s still applying for the change - but at a higher percentage than originally indicated.

Versant says their printing vendor mistakenly sent out an early version of the letter, which read they requested a 9% distribution rate increase from the Maine Public Utilities Commission.

The updated letter says it’s actually a 10.6 % increase.

Versant says the slightly higher request is due to higher-than-expected bids for tree-trimming service.

The updated letter still indicates customer bills will rise by about $12 per month and create $34 million in additional annual revenue.

They say that money would go toward a new metering system, as well as improved reliability, customer service and employee retention.