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Maine PUC Hikes Electric Price Cap

Fortnightly Magazine - September 15 1995

The Maine Public Utilities Commission (PUC) has approved a 2.43 percent rate increase in the price cap for Central Maine Power Co. (CMP). It also issued findings governing the flow-through to ratepayers of savings earned by restructuring contracts with qualifying cogeneration facilities (QFs). The new findings offer rules for changing rate caps and evaluating savings from QF restructurings: 1) determine changes in rate caps by using historic rather than projected sales levels to converting dollar amounts to percentage changes, 2) calculate carrying costs in QF restructurings using the authorized cost of capital, and 3) calculate savings in purchased power costs by drawing a "reasonable" estimate of how much electricity the QF would have provided prior to restructuring. Re Central Maine Power Co., Dkt. No. 95-599, June 22, 1995 (Me.P.U.C.).

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