Some Maine residents who rely on natural gas-fired electricity could see a nearly 90% jump in their monthly rates starting in January, according to the Maine Public Utilities Commission.

Maine CMP territory

“Unfortunately, sharp increases in natural gas prices are resulting in higher electricity supply costs for the coming year,” said Chairman Phillip L. Bartlett II. “The increase is primarily driven by New England’s wholesale electricity market prices, which have increased dramatically.”

A commission spokesperson confirmed to NGI that “more than half” of Maine’s electricity is generated from natural gas.

[Download Now: In our 2024 Natural Gas Outlook Report ‘Future In Focus’, Natural Gas Intelligence’s experienced team of Thought Leaders delve into the myriad opportunities and...