CMP Customers To See Decrease On Monthly Bills

Jun 22, 2018

Central Maine Power (CMP) and Maine's consumer advocate have agreed that electricity consumers can be charged $34 million for costs related to recovery from the October 2017 wind storm, which cut services to thousands of Mainers.

The cost will largely be offset, says Public Advocate Barry Hobbins, by a recent cut in the federal corporate tax and by changes in accounting methodology that reduces consumer liability for costs stemming from this year's March storm.

Hobbins says analysts who he hired agreed with CMP that the earlier storm inflicted a total of $70 million in damage.

"Individuals that we hired really put CMP to the task of proving every single penny of the cost and unfortunately, the reality is, it was a terrible storm," Hobbins says.

CMP says the agreement would result in about a 60 cent monthly decrease in the typical residential electricity bill, starting in July. The Maine Public Utilities Commission still must make a final decision on the allowable storm costs.

This story was originally published June 21, 2018 at 5:08 p.m. ET.