The power company that serves the majority of eastern Maine will ask for an increase in distribution rates for each of the next two years.

Versant Power has just sent a letter of intent out to its customers, that explains the company's need for more revenue to "make necessary investments in system reliability, customer service, and operations."  The letter goes on to state that any increase in the  "distribution" portion of a customer's bill would be the first in 39 months, and that users  had also received "a temporary rate decrease that saved customers $8.1 million between September and December of 2020."

On or after January 18th, the company will ask the Maine Public Utilities Commission to grant approval to an "alternative rate plan", that would ask for a two-step increase of 12.7% per year, over the next two years, amounting to a total increase in distribution rate of 25.4%.

If approved by the Maine Public Utilities Commission, the alternative rate plan would go into effect on both October 1, 2021, and October 1, 2022.

Versant Power says that the typical residential customer with usage of 500kWh per month will see the following impact to their bill:

October 1, 2021 - approximately $4 per month, or a total bill increase of 4.7%.

October 1, 2022 - approximately $4 per month, or a total bill increase of 4.7%.

As we all know, it's imperative to keep the power on, and companies like Versant Power must continue to invest in it's distribution system which takes a beating here in Maine especially during the cold winter months.

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