Versant Power granted 23% distribution rate increase by Maine PUC

HALLOWELL, Maine (WABI) — Just over two months after Versant Power’s supply rate went up, the company was approved for another increase in a different part of the bill.

On Tuesday, the Maine Public Utilities Commission announced it has approved an increase of 23.2% in Versant’s distribution rate.

According to the PUC, a typical customer using 500 kilowatt-hours of electricity per month across both the Maine Public and Bangor Hydro districts will see just over an $11 increase in their monthly bill.

The PUC says it rejected Versant’s originally-proposed increase of as much as 26%.

Versant cited millions in already approved recovery costs, system improvements, increased payroll expenses, expanded vegetation mitigation efforts, and inflation as the need for an increased rate.

The Commission says it weighed those factors alongside concerns about affordability for Mainers in its decision.

“I would note my growing concern about affordability for Versant customers. We heard from concerned customers at public hearings and received many public comments submitted through our CMS system. The current increase of about 23% comes on the heels of a 28.5% increase approved in 2023. While Versant clearly needs to make responsible investments in its system to improve reliability, it will be important to manage the pace of investments, recognizing there are limits on the ability of customers to pay,” said Philip L. Bartlett II, chairman, Maine Public Utilities Commission.

Commissioners called on Versant to propose a multi-year rate plan in its next filing.

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