The Maine Office of the Public Advocate on Wednesday announced a settlement with Central Maine Power over a proposed rate increase.
According to the terms of the settlement, CMP customers would see an increase in distribution rates, starting in July.
The terms call for an increase of about 1% in each of four increments, six months apart. Each increase would add about $1.67 per month for the average residential customer, for a total of nearly $7 per month by 2025.
The deal is the result of negotiations between the Public Advocate, AARP Maine, Competitive Energy Services, Efficiency Maine Trust, Walmart, and others.
The deal would require PUC approval. Separately, the PUC on Wednesday approved an increase in distribution rates of about $10 per month for average customers of Versant Power.
