CMP proposes keeping prices stable by using tax savings

Central Maine Power is proposing to use federal tax savings to keep some prices stable and make improvements to its electric system.

The Bangor Daily News reports that the utility has proposed to keep its distribution prices stable by using tax savings from the federal Tax Cuts and Jobs Act passed in December 2017.

The distribution charge of the electric bill covers costs for billing, reading meters, equipment and maintenance.

The utility made the proposal in filings to the Maine Public Utilities Commission.

State utility regulators are reviewing CMP's latest filing and a decision is expected in August.

CMP also wants to improve its energy grid's resiliency by expanding vegetation management, replacing poles and adding tree wire in selected areas.