CMP rates to increase next month, every six months through Jan. 2025
AUGUSTA, Maine (WABI) - Central Maine Power customers will see their rates go up next month.
The Maine Public Utilities Commission approved the settlement Tuesday that was filed last week by the Office of the Public Advocate.
CMP distribution rates will increase about $1.25 per month every six months through January 2025 for a total increase of about $5 per month over the two-year span.
PUC officials say the settlement is significantly lower than CMP’s initial request.
Under the settlement, CMP would face fines up to $8.8 million annually if they fail to meet various service metrics.
The distribution rate is separate from supply rates.
CMP previously increased its standard offer supply rate by 49%, or $32 more per month, earlier this year.
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