Bangor Hydro Electric Company Submits Request for Changes To Electric Distribution and Stranded Cost Rates
Posted on: Wednesday, 17 January 2007, 12:00 CST
Bangor Hydro Electric Company formally filed requests for changes in both its distribution rates and stranded cost rates with the Maine Public Utilities Commission on Tuesday. As previously stated in November, Bangor Hydro is forecasting the net changes will have minimal impact on electric delivery rates.
Bangor Hydro's filing requests an increase in distribution rates attributed to load reductions. This increase is nearly offset by a requested reduction in stranded cost rates. It is estimated that the combined impact of the filings will result in an increase of approximately 70 cents per month for the typical residential customer bill beginning the first quarter of 2008.
"Considering the current cost pressures facing the energy market, we are pleased to put forward a plan for our customers that keeps electric distribution rates relatively stable for the near future," said Kathy Billings, director of corporate and community relations.
Bangor Hydro's filing starts the Public Utilities Commission's review process. Customers and other stakeholders must request the opportunity to intervene in the process by February 14, 2007.
NOTE: Information relative to these filings was previously released on 11/16/2006.
Bangor Hydro-Electric Company (BHE) is an electric utility wholly-owned by Emera Inc. BHE serves a population of 192,000 in an area encompassing 5,275 square miles in eastern and east coastal Maine. BHE is a member of the New England Power Pool and is interconnected with other New England utilities to the south and with the New Brunswick Power Corp. to the north. Visit us at www.bhe.com.
Emera Inc. (EMA-TSX) is an energy and services company with $4.0 billion in assets. Electricity is Emera's core business. The company has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company, which together serve 590,000 customers. Emera's other investments include a joint venture interest in Bear Swamp, a 600 megawatt pumped storage hydro-electric facility in northern Massachusetts; a 12.9% interest in the Maritimes & Northeast Pipeline ; and Emera Energy Services which manages energy assets on behalf of third parties and provides related services. Visit Emera on the web at www.emera.com.
Source: Business Wire
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