AUGUSA, Maine (AP) — The Maine Public Utilities Commission says most residential and business customers will be paying less for electricity from the state’s two largest utilities in 2020.

The MPUC said the standard offer prices for the electricity supply portion of the bill for Central Maine Power and Emera Maine-Maine Public customers will drop 19% to 20% for residential and small business customers, and 22% to 23% for medium-sized businesses.

For CMP residential customers, the anticipated monthly savings will be $9.35, or $112 annually, based on 550 kilowatts of monthly usage. Monthly bills are expected to drop from about $95.53 a month to $86.18 a month, a 9.8% percent decrease.

PUC Chairman Philip Bartlett II that the bids reflect supply and demand and will help “residents and business owners better manage tight budgets.”

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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