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Versant Power rate changes starting July 1

Customers will see changes to three of five rates on their bills: transmission, stranded costs and conservation
Published: Jun. 29, 2021 at 9:37 AM EDT
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BANGOR, Maine (WABI) - If you are a Versant Power customer, expect to see changes in your bill starting this Thursday.

According to the company, every one will see their conservation rates go down.

Stranded rate costs are going up. According to Versant, that’s due to an increase in the amount of state renewable energy contracts assigned to them as well as Central Maine Power.

Those in the Bangor Hydro District will see about a penny more per month in transmission fees while those in the Maine Public District will pay slightly less.

“In the Maine Public District, transmission rates are falling because of reconciled costs from the loss of large generators in northern Maine a couple of years ago,” says Judy Long, spokesperson for Versant Power. “Historically, transmission rates in northern Maine have been very low. Last year, the rate went up because of the loss of revenue from biomass generators the prior year and to spread fixed costs among remaining customers going forward.”

The Maine Public Utilities Commission is currently evaluating a request by Versant Power to increase distribution rates. If approved, those would not go into effect before October of this year.

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