AUBURN, Maine (NEWS CENTER) -- If you've been watching TV lately, you've probably seen ads for the company "Electricity Maine," promising to lower your electric bill if you switch to them from the "Standard Offer" for electricity on your power bill. We asked the question: Is this for real?
According to Maine's Public Advocate, the answer is yes.
The "Standard Offer" price is essentially a 3-year average of electric prices. It protects customers if electric prices spike. But that also means that if prices go down, you don't see the reduction in your bill right away. "Electricity Maine" has been able to take advantage of lower electric rates these days to make a better offer.
Public Advocate Dick Davies says this is all good news for consumers, but customers should continue to watch rates year to year in case Electricity Maine doesn't beat the Standard Offer in the future. "People should just be aware. This is like so many things they buy. You have to be aware of what your circumstances are and what's affecting those prices. And be prepared to respond if you see circumstances changing and be aware of what your options are."
One thing that will be changing is on March 1st, the Standard Offer rate will be going down. That means that you will no longer be saving 17 percent with Electricity Maine. The company says its rates will continue to be lower than the Standard Offer, though.
You are allowed to switch back from Electricity Maine without penalty. CMP or Bangor Hydro will continue to deliver your electricity whether you switch or not. You can read the Public Advocate's report on Electricity Maine by clicking here.