Residents of Maine could see their electric bills increase in the near future.
The state Public Utilities Commission has approved a rate increase for Versant Power customers. They will see roughly an 8% increase in their monthly bills. The first 4% will hit in July, and the rest in January.
Versant said it plans to use the extra funds for needed capital projects. The company's service territory spans over 10,000 square miles in five counties in central and northern Maine.
Meanwhile, Central Maine Power, the state's largest electric provider, also told state regulators it plans to increase its rates in the coming months. The company serves more than 650,000 electric customers in central and southern Maine.
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The company said it needs to update aging infrastructure, including automating more of its grid, allowing workers to restore power with the flip of a switch instead of always having to send out crews.
"I think customers will see the benefits of this in the long run," Central Maine Power spokesperson Jonathan Breed told News Center Maine.
