Versant Power customers can expect to see their bills rise again this summer after state regulators gave the OK to another rate hike on Wednesday.
The rate hike, which will go into effect on July 1 according to the Portland Press Herald, follows a deal that Versant Power agreed to earlier in May.
The power company had originally sought to impose an approximate 8 percent distribution rate increase in the summer of 2023, but reached an agreement to delay half of the rate hike until January 2024.
The rate hike approved by state regulators on Wednesday will mean that the average Versant Power residential customer using 500 kilowatt hours per month will see an approximate $5 increase to their bill after July 1.
The majority of Versant Power customers who buy their home electricity through the state’s standard offer price already saw about a 40.7 percent increase in supply rates in January. Central Maine Power also hiked its supply rates in January by about 60 percent, and is again seeking a distribution rate increase that will see the average customer’s bill increase by about 1.08 percent.
On Wednesday, CMP reached an agreement with the Maine Public Utilities Commission to request a distribution hike that would increase a bill by about $1.67 for the average residential customer using 550 kilowatt hours per month.
State regulators have not approved CMP’s proposed rate hike yet, but if it passes, the rate hike will go into effect on July 1.
