Rates are going up for Central Maine Power Company's residential customers. State utility regulators yesterday approved an increase in CMP's electricity delivery rates that will go into effect July 1st.
Overall, CMP's rate for distributing and transmitting electricity will go up by about 2.5 percent, from an average of 6.39 cents per kilowatt hour to 6.54 cents per kilowatt hour, the Maine Public Utilities Commission says.
The increase reflects a hike in transmission prices regulated by the Federal Energy Regulatory Commission, which are the result of significant investments in New England's power transmission infrastructure, PUC officials say.
"Transmission rates will likely increase as we upgrade and build new transmission infrastructure to meet the region?s demand for reliable electricity," says PUC Chair Sharon Reishus in a statement.
Rates for supplying electricity -- as opposed to distributing it -- won't be affected because supply rates are determined by a competitive bidding process driven by the electricity supply market, PUC officials say.