The CMP corridor would not have done a thing to prevent the drastic rise we have seen in energy costs. In fact, it would not have even been built yet. And even if it had been built, it would have only reduced electricity costs 15 cents per month for the average consumer a couple years from now, whereas the average consumer is now paying an additional $32 a month more because of CMP’s rising rates. Why is that?

Retail electricity rates are based on standard offer supply bids, which are almost entirely driven by future prices for gas and oil. And those prices would not have been affected by the Northeast Clean Energy Council, even if it were operational. Rather, the main driver – far and away – for rising energy costs is the war in Ukraine. Prices have risen dramatically everywhere, not just in Maine. The war has constrained the global supply of natural gas, so when the supply goes down and demand remains the same, prices go up. The “spot price” for natural gas has tripled since Russia’s invasion of Ukraine.

Carol Howard
New Gloucester