CMP Responds After MPUC Staff Recommends Against Temporary Rate Increase

Central Maine Power is warning that continued uncertainty surrounding its pending rate case could have consequences for future infrastructure projects, staffing and grid reliability across Maine.

The utility issued a press release on Tuesday following a recommended decision by staff at the Maine Public Utilities Commission regarding CMP’s request for temporary rates while its broader rate case remains under review.

CMP says the uncertainty has already forced the company to delay some planned capital projects, including work aimed at improving reliability, strengthening the grid and expanding access to electric service.

The company also says it may now have to reevaluate staffing levels and future hiring plans.

CMP argues that its request for temporary rates would provide limited and refundable financial relief tied largely to investments the company has already made in infrastructure currently serving customers.

The utility says it is facing growing financial pressure as it continues to invest in the electric grid while dealing with more frequent severe weather, aging infrastructure and increasing electricity demand.

CMP also pointed to a recent negative outlook from S&P Global as evidence of that pressure.

According to the company, delaying infrastructure investments does not eliminate the need for those projects and could ultimately increase costs if work is pushed further into the future.

CMP says investments in reliability and grid modernization are especially important as Maine heads into the winter months and continues to see increased electrification.

The company says it is reviewing the MPUC staff recommendation and will continue seeking a balance between keeping rates affordable and maintaining long-term reliability for customers.