Versant Power customers to see rate decrease Release Date: 06-28-2022Bangor and Presque Isle, Maine — Starting July 1, Versant Power residential customers will see a slight decrease in electricity delivery rates. A sample residential customer in the Bangor Hydro District using 500 kilowatt-hours per month and paying $119.73 for delivery and Standard Offer supply will now pay $114.79, a $4.94 decrease. If that customer uses 750 kilowatt-hours per month, they will see a $7.41 decrease, and if they use 1,000 kilowatt-hours per month, they will see a decrease of $9.88 per month. A sample residential customer in the Maine Public District using 500 kilowatt-hours per month and paying $104.70 for delivery and Standard Offer supply will now pay $104.09, a 61-cent decrease. If that customer uses 750 kilowatt-hours per month, they will see a 93-cent decrease, and if they use 1,000 kilowatt-hours per month, they will see a decrease of $1.24 per month. Customers in the Bangor Hydro District will see changes to two of five rates on their bills: stranded costs and conservation. Customers in the Maine Public District will see changes to three of five rates on their bills: transmission, stranded costs and conservation. Customers will see a decrease in stranded cost rates as a result of the Maine Public Utilities Commission’s long-term contracts with renewable energy facilities, which allowed them to procure generation at a lower cost than today’s higher market prices for energy. The stranded cost rate reduction and the slight reduction of the conservation rate offset the cost of a higher transmission rate in the Maine Public District. Transmission rate changes in the Bangor Hydro District took effect on January 1, 2022. The increase in transmission rates for the Maine Public District reflects the costs needed to continue to invest in improvements to our system that increase its safety and reliability. Transmission rates are regulated by the Federal Energy Regulatory Commission (FERC) and updated annually based on a pre-set formula. The decrease in conservation rates is driven by a lower funding level assessed for the Efficiency Maine Trust, the state entity that works with Maine customers on energy efficiency and conservation projects. Versant Power’s rates are based on the cost to provide safe, reliable service throughout northern and eastern Maine, and we’re continually working to improve reliability and customer service in a cost-effective way. New rates for all customers will be posted at versantpower.com as of July 1, 2022. Customers with questions about bill changes are encouraged to call the Versant Power Customer Contact Center at 207-973-2000. Please Identify Your Service Area Click on your district on the map, or select a zip code or town from the lists. 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The Bangor Hydro District includes Hancock, Piscataquis and Washington Counties and most of Penobscot County. The Maine Public District serves Aroostook County and a small piece of Penobscot County. Because some information varies by District, please identify your District on the map above, or enter your town or zipcode. If you need information on both Districts, switch back and forth at any time by selecting the district selector button. If the browser you are using has cookies enabled, you will only have to make this selection once.( If your browser has cookies disabled your selection will be remembered until you close the browser, but not when you return to the site.)
Versant Power provides electric delivery service to two areas – the Bangor Hydro District and the Maine Public District. The Bangor Hydro District includes Hancock, Piscataquis and Washington Counties and most of Penobscot County. The Maine Public District serves Aroostook County and a small piece of Penobscot County. Because some information varies by District, please identify your District on the map above, or enter your town or zipcode. If you need information on both Districts, switch back and forth at any time by selecting the district selector button. If the browser you are using has cookies enabled, you will only have to make this selection once.( If your browser has cookies disabled your selection will be remembered until you close the browser, but not when you return to the site.)