Well, we can breathe a little easier, for now. With a long winter looming, our power prices should remain somewhat stable.
According to a story at CentralMaineNews, Regulators have rejected Central Maine Power’s request for nearly $70 million in higher rates, meaning customers will not see the proposed average $7 monthly increase this fall.
The Maine Public Utilities Commission voted unanimously Tuesday to deny the temporary rate increase, saying CMP’s entire request remained disputed by consumer advocates and other state agencies.
CMP has warned the decision could have consequences for its workforce. The company recently removed about 70 job postings, paused some hiring and said it may have to consider workforce reductions if regulators rejected the increase. CMP employs nearly 1,000 people, but no specific layoffs have been announced.
The utility also says it may delay some infrastructure and reliability projects because of the lost revenue.
CMP’s broader $189 million rate case remains pending, with regulators expected to make a decision next spring.
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