Bangor and Presque Isle, ME – Starting Oct. 1, all Versant Power customers will see changes to the Stranded Costs rate and Public Policy Charge on their bills. Changes are due to the recent enactment of two pieces of legislation: LD 1792, An Act to Ensure Fair and Equitable Recovery of Post-restructuring Stranded Costs, and LD 1777, An Act to Reduce Costs and Increase Customer Protections for the State’s Net Energy Billing Programs. - A typical residential customer in the Bangor Hydro District using 500 kilowatt-hours per month and paying $154.27 for delivery and Standard Offer supply will now pay $154.39, a 12-cent increase. If that customer uses 750 kilowatt-hours per month, they will see a 43-cent increase, and if they use 1,000 kilowatt-hours per month, they will see an increase of 99 cents per month.
- A typical residential customer in the Maine Public District using 500 kilowatt-hours per month and paying $148.17 for delivery and Standard Offer supply will now pay $145.40, a $2.77 decrease. If that customer uses 750 kilowatt-hours per month, they will see a $3.28 decrease and if they use 1,000 kilowatt-hours per month, they will see a $3.79 decrease.
Stranded Costs are a volumetric charge and include all remaining costs from electric industry restructuring in 2000, including power purchase agreements, the retired Maine Yankee power plant, and other costs. The Public Policy Charge is a fixed charge that recovers certain costs of programs required by state policy, including the net energy billing program and low-income assistance programs. The Maine Public District and Bangor Hydro District have separate cost requirements for these statewide programs. Versant Power does not own, control or profit from these programs and passes through to customers the amount the state requires to fund them. More information about the two recent legislative changes is available at https://legislature.maine.gov/. New rates for all customers will be posted at versantpower.com as of Oct. 1, 2025. Customers with questions about bill changes are encouraged to call the Versant Power Customer Contact Center at 207-973-2000. Versant Power is committed to delivering safe, reliable electric service. As the state's second-largest electric utility, the company delivers electricity to more than 165,000 residential, commercial and industrial customers across 10,400 square miles in northern and eastern Maine. |
