Regulators approve Versant rate hike

MAINE PUBLIC • March 11, 2025

Versant Power customers are in for even more expensive electric bills after Maine regulators on Tuesday approved a rate hike to help the company with system upgrades. It's the latest in years of price increases for consumers in northern and eastern Maine. Versant serves about 159,000 customers. The Maine Public Utilities Commission approved a 23% increase in Versant's distribution revenue. The company said it needs extra funding to modernize its system and to cover storm recovery, higher payroll and the effects of inflation. The increase translates to an added $11.15 to the average residential customer's monthly bill, according to the agency.