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House Republican Statement on Standard Offer Increase by PUC
Republicans will offer proposals to lower energy costs when the Legislatures Convenes
STATE?HOUSE ? The monthly electric bill for a typical Maine household (500 kWh) will increase by nearly $24 in January ($114.78 to $138.55). That increase follows yesterday?s approval by the Maine Public Utilities Commission (PUC) of a new ?standard offer? supply rate of 16.44 cents per kilowatt-hour (kWh) for residential and small-business customers, up from 11.68 cents. That represents a 41% increase.
?Mainers are getting crushed by rapid price increases for everyday goods due to high energy costs,? said Rep. Steven Foster (R-Dexter). ?Winter is upon us, the situation is going from bad to worse, and we need to act. Lowering energy costs is a top priority of legislative Republicans. State policies favoring solar and wind at the expense of family budgets need to be changed. Republicans will offer several bills that will lower energy costs for consumers and address anticipated additional increases of 20-30% by the end of 2023 due to net energy billing.?
When the PUC announces the new Standard Offer rate for Versant?s Maine Public District and Central Maine Power, they are expected to be similar.
The PUC said that the Standard Offer increase is the result of continued elevated prices in the natural gas and petroleum markets. During the hearing on Tuesday, PUC Chair Philip Bartlett said the new rate includes a 1.5-cent fuel security initiative add-on from ISO New England. Supply costs typically represent about half of the total bill.
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