AUGUSTA, Maine (AP) - Central Maine Power is asking regulators to increase rates to recover some of the costs from five major storms last year.
The company asked the Maine Public Utilities Commission to boost rates by $26.5 million to offset the unexpected expenses. That proposal will be reviewed and other factors considered before July 1, when any change would take effect.
CMP’s requested increase for the distribution portion of monthly bills is nearly 9.6%, or a little less than $3 per month for the average bill, the company said.
CMP is asking that proposed rate increase be stretched over three years to mitigate the impact on customers.
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