Average residential Central Maine Power Co. customers will pay an extra $2.50 a month starting July 1 to help the utility offset losses created by two major storms last year that caused massive electrical outages, the company said Thursday.
David Flanagan, CMP’s executive chairman, described the rate increase as unavoidable due to a storm in October that knocked out power to 230,000 utility customers and another the following month in which 180,000 of the utilities’ 636,000 customers lost electrical service.
The statement released Thursday by Central Maine Power, the state’s largest utility, comes a day after the state’s 2nd largest, Versant Power, said it would increase its rates starting July 1 by $3.14 per month for its Bangor Hydro District residents and $8.61 per month for its Maine Public District customers.
CMP covers almost all of southern and southwestern Maine while Versant’s Bangor Hydro District includes Hancock, Piscataquis and Washington counties and most of Penobscot County, and Maine Public serves Aroostook County and a small piece of Penobscot County, according to the company’s website.
Central Maine’s new rate represents an increase of 2.81 percent for its residential customers. The company urged the Maine Public Utilities Commission to allow the rate increase to be spread over three years due to the economic impact of the coronavirus pandemic, but was unsuccessful, according to the statement.