CMP Standard Offer Rates Set To Drop

Good news for Maine homeowners, Central Maine Power customers who opt for the standard offer for electricity are going to see their rates drop starting in March.

The Public Utilities Commission approved bids earlier this week that are going to lead to lower electricity rates of 13.4 percent. The rate reduction is set to start on March 1st and will be in effect throughout 2015. Again, that is for CMP 'standard offer' rates.

Many thought that rates would be going up, but sharply lower oil prices are the reason behind the rate drop.