Versant Power launches new rates for sustainable energy solutions amid Maine's energy transition

Maine – Versant Power is expanding certain rates and creating new rates to offer savings for residential customers using electric vehicles, energy storage, heat pumps and heat pump water heaters. These rates are in addition to others introduced in December 2022 and offer more cost-saving options.

As a result of An Act to Advance Energy Storage in Maine, the Maine Public Utilities Commission approved agreements to implement rates encouraging efficient adoption of electric vehicles, energy storage, heat pumps and heat pump water heaters.

The new and/or expanded rates will encourage electricity use during periods of lower demand and aim to help residential customers save money. While Versant Power has had a heat pump rate for customers for nearly a decade, rates for electric vehicles, energy storage, and heat pump water heaters are new. For customers enrolled in current rates, no changes will be made and re-enrollment is not necessary.

“These additional rates will provide more options to encourage cost-effective use and ensure our customers benefit as we increasingly look to use electricity for our clean energy needs,” said John Flynn, Versant Power President. 

Residential customers can now enroll in an expanded rate that adds a separately metered EV charging and/or storage option to our preexisting electric thermal storage rate. Customers must pay for second meter installation but will not pay separate minimum monthly charges for a second meter. This is only available in the Bangor Hydro District at this time. This will be available for the Maine Public District upon completion of Versant Power’s meter replacement project.
New rates are also available for business customers:

• An expanded rate is available for businesses using electric heat and/or a heat pump water heater(s). This is the same as commercial space heating rates. This became available to business customers in the Bangor Hydro District in December 2022 and is now be available to customers in the Maine Public District.
  
• An expanded rate is available for businesses using commercial Level 2 EV charging and battery storage. This now includes a 50-kW cap. This is currently only available in the Bangor Hydro District.
  
• An expanded business rate also allows for Level 3+ (fast) EV charging and battery storage. This is currently only available in the Bangor Hydro District.
  

For more information about new and updates rates that were made available in December 2022, please see this press release.
For more information, please visit /energy-solutions/heat-pumps/ or /energy-solutions/electric-vehicles/. You can also follow Versant Power on Twitter (@versantpower), Instagram (versantpower) or LinkedIn.