Versant Power customers in Maine can expect an increase in their electricity bills starting Jan. 1, 2025, as announced by the Maine Public Utilities Commission. Residential and small-class customers in Aroostook County will see their rates go up to 11.65 cents per kilowatt-hour, while customers in Penobscot, Hancock, and Washington counties will pay 10.56 cents per kWh.
Medium-class customers will see monthly changes in their rates, with a weighted average rate of 15.02 cents per kWh in Aroostook County and 10.39 cents in Penobscot, Hancock, and Washington counties. Large, non-residential customers in Aroostook County will have a weighted average rate of 17.76 cents per kWh.
The rate increase is set through a competitive bid process by the Maine PUC, with Versant Power passing on the additional cost of electricity supply to customers. Versant Power itself does not benefit from the rate hike as a transmission company. In the Bangor Hydro District, prices will be indexed to wholesale market prices and set monthly.
Customers are encouraged to take advantage of energy-saving tips and programs to help offset the rate increase. Versant Power remains committed to providing reliable and affordable electricity service to customers in Maine.
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