Dead River Co. said on Thursday it was expanding its energy portfolio to include electricity, adding to its existing oil, propane and kerosene services.
The move comes 12 years after Maine deregulated its electric industry. Gulf Oil recently said it would enter the Maine market with Gulf Electricity. Heating oil company C.N. Brown also has applied to provide electricity, according to the state Public Utilities Commission.
Other competitors include FairPoint Energy, a subsidiary of northern New England’s dominant telephone company, and Electricity Maine, the Auburn power supplier that has attracted more than 150,000 customers since starting up more than a year ago.
Dead River said it was approved by the Maine Public Utilities Commission as a competitive electricity provider. Dead River said it now offers electricity at rates lower than the standard offer. It also is offering off-peak electricity used for electric thermal storage units.
“We don’t chase fads at Dead River. We do invest in technologies that we believe will make a difference in meeting the energy needs of our customers,” said Dead River Chief Executive Bob Moore.
Dead River said it now provides electricity to residential customers and small businesses in the markets served by Central Maine Power and Bangor Hydro-Electric Co. Customers will still rely on Central Maine Power and Bangor Hydro to restore transmission and delivery of electricity in the event of a power outage.