Electricity Supply Prices Set for Standard Offer Service in Emera Maine – Maine Public District

Hallowell, Maine – (RealEstateRama) — In a competitive solicitation concluded today, the Maine Public Utilities Commission (“Commission”) set new prices for standard offer electricity supply for customers of Emera Maine – Maine Public District (Emera Maine) who receive standard offer supply service. The new prices are effective November 1, 2016.

For Emera Maine – Maine Public District residential and small business customers who receive standard offer supply service, the new standard offer pricing is 7.092 cents/kWh for the first seven months, which is a 16.5% decrease compared to the current standard offer rate of 8.493 cents/kWh. For the remaining term, the standard offer price will be indexed.

For Emera Maine – Maine Public District medium business customers, the new prices differ by month, equating to 7.0116 cents/kWh for the seven month average, varying from 4.89 cents/kWh to 9.349 cents/kWh. These medium class prices are about 17% lower than prices during the same period last year. For the remaining term, the standard offer price will be indexed.

These new prices apply only to standard offer service, which reflects about 90% of the sales in Emera Maine’s Maine Public District service area. The prices do not apply to customers that purchase their own electricity supply in the market.

“The standard offer prices set today reflect the best bids received in our solicitation process,” according to Commission Chairman Mark Vannoy. “We are encouraged that prices are lower for both retail and business customers; reflecting a downward trend in energy markets” said Vannoy. The names of the suppliers selected will be released in two weeks, allowing time for power supply arrangements to be finalized.

Background: Electricity customers in Maine receive standard offer service if they have not purchased supply from another retail supplier or through an aggregator. Currently, standard offer service represents about 90% of the supply used by Emera Maine-Maine Public District customers. Maine law requires the Commission to ensure that standard offer service for electricity supply is available to all customers in Maine. The Commission arranges for standard offer service through periodic competitive bid processes.

For more information on standard offer service prices: http://www.maine.gov/mpuc/electricity/standardofferrates/index.html

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The Maine Public Utilities Commission regulates electric, telephone, water and gas utilities to ensure that Maine citizens have access to safe and reliable utility service at rates that are just and reasonable for all ratepayers. Commission programs include Maine Enhanced 911 Service, and Dig Safe.

Contact: Harry Lanphear, 287-3831