October 4, 2012

Dead River gets into Maine electricity market

By Jessica Hall jhall@pressherald.com
Staff Writer

Dead River Co. said on Thursday it was expanding its energy portfolio to include electricity, adding to its existing oil, propane and kerosene services.

click image to enlarge

Over the next several months, Mainers will have new options that can marginally lower their electric bills.

Gordon Chibroski / Staff Photographer

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Comparing Current Maine Electricity Supply Costs

(Assumes Central Maine Power home customer using 521 kilowatt hours a month, which is the average residential power consumption, according to the Maine Public Utilities Commission.)

Maine Public Utilities Commission standard offer: $38.55
Electricity Maine: $36.99
Gulf Electricity: $36.41
Maine Green Power: $46.05

Source: Portland Press Herald research

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.

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