Central Maine Power seeks temporary rate hike for Maine customers

Central Maine Power (CMP) has requested a temporary rate hike that could increase monthly distribution costs for approximately 670,000 customers in southern and central Maine as early as this fall. If approved, the increase would average about $7 per month for the typical household.

The utility is seeking this $69.3 million temporary increase to bolster revenue while the Maine Public Utilities Commission deliberates on a larger $189 million rate case. The commission has scheduled deliberations for October 6 to decide on the proposal. A final decision on a full rate hike, which could increase monthly bills by $18, is expected next spring.

CMP spokesperson Dustin Wlodkowski stated the temporary rates are necessary to fund critical grid investments and reliability projects. The company’s financial outlook was recently downgraded to ‘negative’ by S&P Global Ratings following a $100 million cash flow deficit and stagnant revenue.