Versant Power supply rate increasing 41 percent

Published: Nov. 15, 2022 at 9:14 PM EST
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Maine (WABI) - Versant Power customers will see a portion of their electric bill rise more than 40 percent next year.

The Maine Public Utilities Commission set the new standard offer supply rate for customers in the Bangor Hydro District to 16.4 cents per kilowatt-hour.

They say this will cost the average customer almost $24 more per month.

The PUC says the rate was set through a competitive bid process and reflects regional market conditions.

Chairman Philip Bartlett said this increase is lower than expected because the natural gas markets have come down.

Last year, the PUC raised the supply rate by 88.6 percent - a more than $30-per-month increase.

Versant also requested a 10.6 percent increase in its distribution rate last month, which would raise that portion of your bill by $12 per month.