The Public Utilities Commission on Friday approved a 40% decrease in the electricity portion of bills for Bangor Hydro business customers that use the default ":standard offer.":
The price will fall from 13.3 cents pkh to an average of about 8.1 cents. The lowest price in three years.
Electricity costs account for about 60% of monthly bills, with transmission and distribution rates accounting for the other 40%.
Electricity rates are going down for nearly all residential and business customers in Maine come March 1 to reflect falling prices for natural gas.