The Maine Public Utilities Commission on Tuesday declined to implement Central Maine Power’s proposed plan that would increase rates over the next five years.
Under the proposal, the bill of a typical residential customer using 550 kilowatt hours per month would go up by a total of $35 per month over the five-year term, generating a total of $427 million in revenue for the utility, according to CMP and filing documents.
The increase would be steepest at the start, jumping $17 per month in the first year, then $5 per month the following year, $4 per month in each of the next two years, and $5 per month in the final year.
Commissioners were concerned that CMP’s proposed plan did not include a long-term integrated grid plan, as well as the potential negative impact on customers.
“At a time when the Legislature has prioritized grid planning and performance standards, and affordability is a top concern, CMP’s proposal misses the mark, particularly regarding accountability, pacing of investments, and ratepayer protections,” Commission Chair Philip L. Bartlett II said. “The Commission will open a proceeding to provide guidance on multi-year rate plans to inform future rate case filings.”
The rate hike request also comes on the heels of a rate increase that took effect July 1 and was expected to add $4.91 per month to the bill of the average residential customer.
CMP will need to file a new rate request with the Maine PUC for any future changes. A timeline for the guidance proceedings, or when new rates will be considered, has not been determined according to Maine PUC spokesperson Susan Faloon.
