Versant Power investment plan for Maine electricity distribution system ready for review
Versant Power noted that a new electricity distribution investment plan will be submitted to the Maine Public Utilities Commission (MPUC) this month.
The plan is meant to provide details on specific Versant efforts to improve reliability in electrical service. The company intends to improve and invest in its staff and systems over the days ahead, including rate changes. However, owing to the ongoing COVID-19 pandemic, Versant Power will ask for those rate increases to be phased in over two years.
For the average residential customer using 500 kilowatt hours per month, Versant’s proposed changes would see monthly bill increases of approximately $4 beginning Oct. 1, 2021, and Oct. 1, 2022. However, all customers will receive letters containing more detailed information about state regulators’ evaluation of Versant’s request, and the company is still seeking insight from both customers and MPUC to best provide transparency for its plans.
Notably, Versant’s distribution rates have not changed since July 2018, aside from a discount provided from September through December 2020.
