Versant Power customers will see a slight increase in their electrical bills starting July 1, though customer bills on the whole will still remain lower than they were a year ago, the company announced in a statement released on Wednesday.
The statement released by the former Emera Maine, the state’s second-largest electric utility, did not provide an across-the-board percentage increase, but said that typical Bangor Hydro District residents using 500 kilowatt-hours per month would see an increase of about $3.14 per month. A typical residential customer in the Maine Public District using 500 kilowatt-hours per month will see an $8.61 increase, according to the statement.
The Bangor Hydro District includes Hancock, Piscataquis and Washington counties and most of Penobscot County. Maine Public serves Aroostook County and a small piece of Penobscot County, according to the company’s website.
Customers will see increases in their transmission, conservation and stranded costs, which state law defines as costs made unrecoverable by the restructuring of the electric industry.
Residential customer bills will remain lower than they were a year ago because the Maine Public Utilities Commission negotiated “significantly lower” electricity supply prices, according to the statement.
The name change comes after ENMAX Corp. of Calgary, Alberta, completed a $959 million transaction to acquire the utility from its parent company, Nova Scotia-based Emera, back in March. With assumed debt, the deal was worth $1.3 billion.