Initial Filing Date: 11/17/2020
Summary: 12.7% per year for two years
Effective Date: 10/1/2021
Versant Power has filed a petition with the Maine Public Utilities Commission requesting an increase in distribution revenue staggered over a 2 year period. Effective October 1st, 2021, they have requested an increase of $11.1 million, or 12.62%, and effective October 1st, 2022, they have requested a second increase of $11.1 million, or 12.62%. In total, they are seeking approval for an overall annual distribution revenue requirement of $106,649,817, or a 25.23% increase from the current forecasted revenue.
Versant Power has stated here that the requested increase in revenue is planned to be recovered by increasing each distribution rate by an equal percentage for all customers taking service in Maine. The total increase to all customer monthly bills is forecasted to be approximately 4.7%, as shown below in this excerpt from the new proposed Residential Schedule:
Additionally, to view all other documents in regards to Versant’s filing and to stay up to date on the overall approval status, you can view the Public Utilities Commission’s website here.
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