Versant proposes $10 rate increase starting next summer

Versant proposes $10 rate increase starting next summer

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In this article, you will get all the information regarding Versant proposes $10 rate increase starting next summer

Versant Power asked regulators Thursday to approve an average $10.50 per month increase in the distribution part of its electric bill starting next July.

The utility cited maintenance and upgrades, technology investments and labor market pressures as reasons for the request to the Maine Public Utilities Commission. It comes as surging energy prices have caused electricity supply rates to rise sharply.

Gov. Janet Mills and the Public Advocate William Harwood were quick to question the request. Mills said she will direct her energy office to oppose it and ask the commission to reject it. 

The public advocate said it will evaluate the request for evidence of costs that should not be passed on to ratepayers, although Versant said it is “not seeking to earn greater return on investments as part of this request.

“The timing of Versant’s proposed increase is unfortunate,” Harwood said. “Mainers are already struggling to pay high energy costs.”

Versant proposes $10 rate increase starting next summer

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