For Release: Immediate
“Maine public utilities commission announced major increases in rates for residential customers that begin in march. The new rates for homes is about 11% higher and medium business customers will pay about 18% more.
The rate increases are not a surprise to electricity Maine. We are also seeing increases in the market for the foreseeable future. This is why many of our customers started to select our 24 month fixed rate. The rate allows them to lock in now a rate they can depend on.
One major surprise was the rate swings that many of the medium size business customers will have this year. Over the next year rates for this class of customer will be as high as 15 cents per kWh. One of the most significant impacts will be to businesses in the middle of the winter in January of next year when they are trying to heat their business they will be paying an incredible 49% more next January than they are right now.
One of the reasons our company has been so successful is that we offer one fixed rate for our business customers that allows them to budget and plan better especially during the winter.
Unless your business revenue increases in the winter while you are trying to heat you are better off with a fixed rate for your electricity that does not change every month and go up during the winter months.”
Kevin Dean/co-owner Electricity Maine