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Maine residents brace for power rate hikes over 60%

November 10, 2021 GMT

PORTLAND, Maine (AP) — Mainers are likely to see the rate they pay for home electricity increase, in some cases by a considerable amount.

The Maine Public Utilities Commission recently provided possibilities about upcoming power rates to the Maine Legislature, agency spokesperson Susan Faloon said. The final number isn’t yet available, Faloon said.

However, a majority of Maine residents could see their rate go up between 60% and 80%, the Portland Press Herald reported. Under expected increases, the cost of power would climb about $20 to nearly $53 per month for a typical household, the Press Herald reported.

Rich Silkman, chief executive of Competitive Energy Services in Portland, said a price bump is “not only possible, it’s almost certain.”

The price of energy has risen around the world during the coronavirus pandemic. Natural gas prices have been especially high.