CMP electricity rates are going up. Here’s what’s driving it.

PORTLAND PRESS HERALD • July 5, 2024

Starting this month, Central Maine Power Co. customers are paying an average of $15.56 more a month – a 12.6% increase – for storm cleanup, renewable power, and incentives for electric heat pumps and electric vehicles. The higher rates were approved in separate cases by the Maine Public Utilities Commission in recent weeks, but to a large extent, the increased charges reflect public policy set by the Legislature. The largest share of the increased rate – more than $10 for the average customer – is to reimburse CMP $220 million for cleanup following destructive storms in 2022 and 2023.