CMP Approved To Raise Rates Beginning August 1st

Unless you live in one of those "magic" houses like my children do where the fridge is always full, the internet is always working, and electricity is just always there, then the news that CMP will be raising rates by double digits beginning the first of next month has got to raise a few eye brows.

According to the Press Herald when the news broke last week that the Maine Public Utilities Commission approved this rate hike the can was kicked down the road with blame placed on the Federal Energy Regulatory Commission as the need for new high voltage lines and some maintenance on lines that are already in place. Granted the PUC has no control on Federal hikes but it's safe to say everyone will feel the pinch especially with inflation rising as fast as it has been.

Bottom line, if you typically pay about $100 a month, you can expect to pay about $112 a month starting on Augusta 1st.

Perhaps that is what bothers me the most, it's the collective increases that all add up and stretch our already "stretched" dollar even more.

What are your thoughts on the subject?

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