Central Maine Power Explains Energy Supply Rates to Customers
FOR IMMEDIATE RELEASE
Augusta, Maine – December 27, 2018 – Central Maine Power, a subsidiary of AVANGRID (NYSE: AGR), is reaching out to customers to help them understand why portions of their bills may be higher this month. Beginning in January, residential customers will receive a brief explanation in their bills about how the price of their supply of energy is different than the price of delivery, which is the portion CMP is responsible for.
“We are reminding customers that the energy supply rates for residential customers who choose Standard Offer supply will rise 13.7% beginning in January. This is not a CMP increase- this is the increase in the cost of the energy supplied largely by natural gas-fired generation companies. However, CMP collects this fee in bills and remits it to the Standard Offer suppliers so customers often assume we have just raised their rates—which is not the case,” said Doug Herling, president and CEO of CMP. “We want to do everything we can to prevent the sticker-shock that some customers experienced a year ago when the supply rates rose by close to 18% and were first reflected in customer bills during an extreme cold spell.”
CMP charges customers for the delivery of electricity and all customers share in transmission and distribution costs – essentially the costs involved in maintaining a safe, secure and reliable grid. The Maine Public Utilities Commission determines the rates for Standard Offer Service energy supply and announced 2019 rates earlier in December. Customers can also choose to receive energy supply from other Competitive Electric Providers and a listing of licensed retail suppliers is available on the Maine Public Utilities Commission website.
“Electric utility pricing is somewhat complex and confusing for many,” explains Herling. “While we have visited this issue frequently with customers over the years, we want to make sure we are continuing to provide information that helps customers better understand their bills.”
With CMP tools such as Energy Manager and Usage Alerts on the newly revised cmpco.com website, all customers can have information about their energy use at their fingertips and can understand when and how they may be able to manage those costs.
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