The price of Versant Power’s standard offer will go up at the end of the year, the Maine Public Utilities Commission announced on Wednesday.
Starting on Jan. 1, 2025, residential and small-class customers in Versant’s Maine Public District (Aroostook County) will pay 11.65 cents per kilowatt-hour (kWh), up from 11.29 cents.
In Versant’s Bangor Hydro District (Penobscot, Hancock and Washington counties), the rate will increase to 10.56 cents per kWh, from 10.26 cents.
The standard offer for medium-class customers in both districts will change month to month, with a 2025 weighted average rate of 15.02 cents/kWh in the Maine Public District and 10.39 cents in the Bangor Hydro District.
For large, non-residential Maine Public District customers, the weighted average rate starting Jan. 1, 2025, will be 17.76 cents/kWh. For the Bangor Hydro District, prices will be indexed to wholesale market prices and will be set in advance of each month.
The Maine PUC sets the rate for the standard offer through a competitive bid process. Versant charges for the increased cost of the electricity supply, but as a transmission company does not benefit from the rate hike.
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