Versant Power customers in Bangor Hydro District to see transmission rate change
Starting January 1, residential customers in Versant Power's Bangor Hydro District will see an increase of about $1.01 to their electricity bills from an increase in the transmission rate, one of five rates on their bills. The rate change reflects the costs needed to continue to invest in improvements to our system that increase its safety and reliability.
Prior to 2021, Bangor Hydro District customers saw this transmission rate change each July. Transmission rates are regulated by the Federal Energy Regulatory Commission (FERC) and updated annually based on a pre-set formula. The transition to a January 1 transmission rate change was determined by FERC, based on input from key stakeholders.
Additionally, the Maine Public Utilities Commission (MPUC) has announced that on January 1, supply prices will increase for all customers in the Versant Power Bangor Hydro District who receive Standard Offer Service.
The standard offer rate is determined through a bid process conducted by the Maine Public Utilities Commission. Versant Power does not generate this electricity, nor does it make a profit from it; however, we are required to bill for it as a direct pass-through to our customers. We maintain the poles, wires, substations, and other equipment that make safe and reliable delivery possible.
Commercial customers in the Bangor Hydro District will see an increase or decrease in their transmission rate dependent on their rate class and should review the rate changes on versantpower.com on January 1, 2023 or contact our Customer Contact Center at 207.973.2000 for more information. Customers in Versant's Maine Public District will not see a change in transmission rates at this time.
Prior to 2021, Bangor Hydro District customers saw this transmission rate change each July. Transmission rates are regulated by the Federal Energy Regulatory Commission (FERC) and updated annually based on a pre-set formula. The transition to a January 1 transmission rate change was determined by FERC, based on input from key stakeholders.
Additionally, the Maine Public Utilities Commission (MPUC) has announced that on January 1, supply prices will increase for all customers in the Versant Power Bangor Hydro District who receive Standard Offer Service.
The standard offer rate is determined through a bid process conducted by the Maine Public Utilities Commission. Versant Power does not generate this electricity, nor does it make a profit from it; however, we are required to bill for it as a direct pass-through to our customers. We maintain the poles, wires, substations, and other equipment that make safe and reliable delivery possible.
Commercial customers in the Bangor Hydro District will see an increase or decrease in their transmission rate dependent on their rate class and should review the rate changes on versantpower.com on January 1, 2023 or contact our Customer Contact Center at 207.973.2000 for more information. Customers in Versant's Maine Public District will not see a change in transmission rates at this time.