You likely have heard that electricity prices are increasing this summer. As local communities continue to deal with inflation and related challenges, we know this is unwelcome news.

At Versant Power, we take seriously our duty to be transparent with our customers and communities. I’m reaching out today to explain how rates are changing, why they are changing, and what you can expect. I know your friends, neighbors, constituents and/or members look to you for information and guidance and hope this explanation may be helpful.

Customers in our Bangor Hydro District (eastern Maine) and Maine Public District (northern Maine) will see changes to:

Stranded cost rate: This part of your electricity bill pays for state programs and policies, including programs that incentivize development of local, renewable energy. This rate is going up primarily because of the cost of net energy billing programs, which offer incentives for rooftop, business and community solar energy production. Versant Power does not profit from these programs and passes through to customers the amount the state requires to fund them.

Distribution rate: This represents the cost of delivering electricity to local homes and businesses, including maintenance of equipment and customer service. The Maine Public Utilities Commission (MPUC) recently approved Versant Power’s October 2022 request for a distribution rate change to support projects that will maintain and improve our service to you, including technology upgrades, improvements to our tree pruning program, and replacement of aging poles, wires and substations.

Customers will see a decrease in the conservation rate on their bill, driven by a lower funding level assessed for the Efficiency Maine Trust, the state entity that works with customers on energy efficiency and conservation projects.

Finally, customers in the Maine Public District also will see a transmission rate increase, reflecting costs of our investment in our transmission system to ensure its safety and reliability. The Federal Energy Regulatory Commission (FERC) – not the Maine PUC – determines these rates. Customers in the Bangor Hydro District also will see a supply rate decrease ordered by the MPUC upon review of actual supply costs year to date.

For the last two years, energy supply costs in Maine have risen dramatically, at rates 3-4 times the rate of delivery costs since 2018. This is largely due to volatility in the global natural gas markets. To minimize impact on customers challenged by rising energy supply costs, as well as the significant stranded cost increases this year, we will defer part of distribution and stranded cost price increases until Jan. 1, 2024. The MPUC and Maine Office of the Public Advocate expect that electricity supply prices will decrease in the new year, so we hope that customers see little to no impact when additional changes go into effect in about six months.

As you may know, Versant Power provides electricity delivery service only. We do not own, control or profit from electricity supply. We are required by law to collect energy supply costs from customers and pass those costs through to the generators that produce your power whether you take the Standard Offer or are a customer of a Competitive Electricity Provider.

We encourage you to share this information as you find helpful. We know that electricity is essential to your community, and we hope you know that we work hard every day to provide value to you through cost-conscious work to keep you safe and connected. If you have specific questions about your account, please call our Customer Contact Center at (207) 973-2000 and speak with one of our local representatives.

John Flynn, President         

Bill Breakdown

A typical residential customer in the Bangor Hydro District using 500 kilowatt-hours per month and paying $139.57 for delivery and Standard Offer supply will now pay $151.43, an $11.86 increase. If that customer uses 750 kilowatt-hours per month, they will see an $18.09 increase, and if they use 1,000 kilowatt-hours per month, they will see an increase of $23.72 per month.

A customer using 500 kilowatt-hours per month now includes:

$1.54 in conservation charges (a decrease of 74 cents vs. last year)

+ $8.77 in stranded cost charges (an increase of $12.97 vs. last year)

+ $21.92 in transmission rate charges (no change)

+ $42.01 in distribution charges (an increase of $4.63 vs. last year)

TOTAL=$151.43

A typical residential customer in the Maine Public District using 500 kilowatt-hours per month and paying $122.00 for delivery and Standard Offer supply will now pay $135.59, a $13.59 increase. If that customer uses 750 kilowatt-hours per month, they will see a $20.40 increase and if they use 1,000 kilowatt-hours per month, they will see a $27.20 increase.

A customer using 500 kilowatt-hours per month now includes:

$1.54 in conservation charges (a decrease of 74 cents vs. last year)

+  $5.47 in stranded cost charges (an increase of $7.91 vs. last year)

+  $13.02 in transmission charges (an increase of $1.88 vs. last year)

+  $41.16 in distribution charges (an increase of $4.54 vs. last year)

TOTAL=$135.59

Non-residential customers who take the General Service rate and use 1,000 kilowatt-hours per month will see an increase of $25-$30 per month. If they use 5,000 kilowatt-hours per month, they will see an increase of $105-$135 per month.

Customer Service

If you have additional questions or comments about our rate changes, please call us at 20-973-2000.

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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.

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