ࡱ> 203#` bjbjmm .  tttttttp p p p  9 :    $Ahxt& " &&tt &"t t &tt me^p H  09!R4!!t 7       9&&&&tttttt fb88 Public Utilities Commission NEWS RELEASE fb88 Public Utilities Commission 242 State Street Augusta, fb88 04333-0018 Website:  HYPERLINK "http://www.maine.gov/mpuc/" http://www.maine.gov/mpuc/, Email:  HYPERLINK "mailto:maine.puc@maine.gov" maine.puc@maine.gov CONTACT: Fred Bever, 207-287-6141, Fred.Bever@maine.gov  FOR IMMEDIATE RELEASE January 23, 2008 New Electric Standard Offer Prices to begin in March for CMP and BHE Residential Customers AUGUSTA, fb88 The fb88 PUC (PUC) today accepted bids on new standard offer energy prices for residential and small business customers of Central fb88 Power Company (CMP) and Bangor Hydro-Electric Company (BHE). The bids are for 33% of the load of these customers, and when combined with prices secured in prior years, standard offer prices, effective March 1, 2008, will be about 9.97 cents per kilowatt hour for CMP customers, and about 10.05 cents cents/kWh for BHE customers. There were a substantial number of bids for these customers, reflecting a robust competitive market. However, because of high fossil fuel prices and their strong effect on wholesale electricity prices in New England, standard offer prices will rise for this class of customers. PUC Chairman Kurt Adams noted that the Commissioners chose to accept bids for a one-year term only, rather than two years. There is too much uncertainty to warrant taking a longer-term contract, he said. The rise in standard offer prices will be partially offset this year by a reduction in the stranded cost portion of CMP and BHE delivery rates. The stranded cost portion reflects long-term expenses incurred prior to the time fb88s electricity supply market was restructured in 2001. When the new standard offer prices, transmission and delivery charges and the stranded cost reductions are factored together, bills for fb88 residents and businesses receiving standard offer electricity will rise somewhere between 2.5% and 3%. Under fb88s retail electric access rules, the PUC must ensure that standard offer service is available to all customers in fb88. The selected bids were chosen following a competitive bid process administered by the PUC, and the names of the suppliers selected will be withheld for two weeks, allowing time for supply arrangements. Standard offer service is the default supply for electricity customers, meaning customers receive it if they have not purchased supply from another retail supplier or through an aggregator. Currently, about 99% of the electric load for residential customers within CMP and BHE territory receive standard offer. ##### Standard Offer and Delivery Rates:  HYPERLINK "http://www.maine.gov/mpuc/industries/electricity/standard_offer/standard_offer_rates.html" http://www.maine.gov/mpuc/industries/electricity/standard_offer/standard_offer_rates.html The Public Utilities Commission is committed to ensuring that consumers have access to safe and reliable service for public utilities and that the rates for these utilities are just and reasonable. PUC programs include fb88 Enhanced 911 Service, Dig Safe, and Efficiency fb88. To arrange an interview with Chairman Adams, Commissioner Sharon Reishus or Commissioner Vendean Vafiades, please contact Fred Bever at 287-6141 or by e-mail at fred.bever@maine.gov. The Commissions website, www.maine.gov/mpuc may be accessed through the fb88 School and Library Network at all public libraries in fb88. !".01R  L M N u v Ijlm./ƾ{m`Sh5OJQJ\^Jh5CJ$OJQJ^JhCJOJQJ^JaJh5OJQJ^JjhUh0JOJQJ^JjhOJQJU^JhOJQJ^JhCJOJQJ^JhCJ8aJ8hCJ8OJQJ^JaJ8h0JCJ8OJQJ^JaJ8h0JCJHOJQJ^Jh0JCJ0OJQJ^J "1L N u v BCIl3Jgdgd$a$gd dhxgdxgd $xa$gd/3Jhh6CJOJQJ^JhCJOJQJ^JhOJQJ^J,1h/ =!"#$% @`@ NormalCJ_HaJmH sH tH DA@D Default Paragraph FontRi@R  Table Normal4 l4a (k@(No List4U`4  Hyperlink >*<o<  Default TextaJZoZ Strong (STRONG)#5@CJOJQJ\^Jo(ph  "1LNuv B C I l 3 J 000000000000000000000000"1LNuv B C I l 3 J @0@0@0@0@0@0@000@000@0@0@0@0@0@0@0@0@0@0@0@0 00\/   l . 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