Rate Request

On September 27, customers received legal notice of Versant Power's request to change distribution rates beginning in the summer of 2023. We want to share some information with you about the request and why we’ve made it.

Electric Bill Impact

For the average residential customer using 500 kilowatt-hours per month, this would mean an increase of about $12 per month. For a customer using 750 kwh, it would result in a $17-18 increase, and for 1,000 kwh, an increase of about $24. 

• There are a total of five rates that make up customer electric bills.
          ○  Two of those rates are related to the delivery of electricity.
                    ■ Versant Power’s rates are transmission and distribution, which represent the cost to bring electricity from where it is made to your home or business.
                    ■ Versant Power’s rates are regulated by the Maine Public Utilities Commission and Federal Energy Regulatory Commission
          ○ Conservation charges go directly to support Efficiency Maine programs.
          ○ Stranded costs reflect the cost of state programs, long-term power purchases and contracts left over from deregulation.
          ○ The last rate is for electric supply.
                    ■ That rate by default is Standard Offer Service
                    ■  Customers can choose their own electric supplier.
                    ■  Versant Power does not generate or sell electricity, but we bill on behalf of those that do.

Our Investments

With that extra $12 per month, we plan to:

• Replace our metering system, which has reached the end of its useful life
• Replace deteriorating cables that provide electricity to customers on islands off the coast of Maine
• Build a new substation in Machias, improving reliability and replacing equipment near Bad Little Falls with a more environmentally-friendly solution
• Continue our work to improve reliability in the Old Town/Orono area
• Install additional equipment in northern Maine to reduce the impact and duration of outages that do occur
• Make continued improvements to our tree trimming program to reduce the number of power outages and harden the system against storms
• Invest in our technology, keeping customer and other sensitive data secure
• Retain quality employees in a competitive labor market

Rising energy costs and inflation

• Like all businesses, we are affected by price increases and labor market pressures. We are deliberately not seeking an opportunity to earn greater return on investments as part of this request. 
• If this rate change is approved, Versant Power will still offer distribution rates and total average residential bills that are lower than most comparable New England utilities.

There are resources available for customers who need help with their electricity bill.

• Check out “Programs and Services” at versantpower.com.
• Visit the Department of Energy’s Energy Saver site or Efficiency Maine for tips for information about how you can save money on your energy use.
• You can make simple choices to save substantial money on your energy costs.
• Efficiency Maine works with low-income residents to install heat pump water heaters for free, among other incentives.

System Reliability

In 2021, our team met and exceeded increasingly stringent performance quality metrics including SAIFI, CAIDI, and SAIDI. 

We’ve continued to implement more sophisticated technology to inspect our equipment, ensuring we keep costs of repairs, replacements and improvements as low as possible.

• Drone inspections
• Wood pole strength assessments using a resistograph
• Ultrasonic scans
• Handheld acoustic assessments

Customer Service

We consolidated our customer information system to a single system to better serve customers. Our customer service representatives had a strong year, exceeding their call abandonment metric set by the MPUC for a result of 6.93% (goal ≤ 7%) in 2021.

If you have additional questions or comments about our rate request, please email us and let us know. Information on proceeding participation is provided in your Customer Notice or you can visit the MPUC online case management system.

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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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