Is electricity expensive in Maine?
Maine and its New England neighbors consistently have among the highest electricity rates in the nation.
People are really concerned about the rate increases. He says the increase is due to the cost of natural gas, which is a big source of electricity for Maine and for the New England grid in general. And he says this increasing cost is a regional, it's even a global issue.
The average cost of electricity in Maine — according to the Energy Information Administration (EIA) — hovers around 23.03 cents per kilowatt-hour, making it one of the most expensive areas in New England for power. Companies offering renewable energy plans range between 11.48 cents and 18.8 cents per kWh.
Electric bills in Maine
In Maine, the average monthly electric bill for residential consumers is $201/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 917 kWh * 22 ¢/kWh.
- Hawaii (39.97 cents/kWh)
- California (26.71 cents/kWh)
- Connecticut (25.61 cents/kWh)
- Massachusetts (25.33 cents/kWh)
- Rhode Island (23.46 cents/kWh)
Is it expensive to live in Maine? A recent study showed that the cost of living in Maine is the sixth highest in the country. Maine residents spend 91.3% of their income on expenses, which is about 10% more than the national average.
However, Hawaii also boasts the highest monthly residential and commercial electricity costs, on average. Hawaiians pay an estimated monthly electricity bill of $242.83, according to Payless. Between Aug. 2021 and Aug. 2022, the state experienced an increase of 38% in kilowatt-hour (kWh) costs.
Some estimates suggest that energy bills could remain high until 2024. It's difficult to know exactly when energy bills will go down, as international gas prices are continuing to fluctuate.
In 2021, 72% of Maine's in-state electricity net generation came from renewable resources, down from 79% in 2020, in part because of an increase in natural gas-fired generation. Hydroelectric dams, wind turbines, and wood and wood-derived fuels supplied most of the state's renewable generation.
Average Utility Costs in Maine: $380 per month
Here are Maine's average monthly utility costs. Your results may vary according to your property and geography.
Is it expensive to buy a house in Maine?
Housing Costs in Maine
Median home value prices in Maine can range quite a bit, but the statewide median is $199,477, according to NeighborhoodScout. In Portland, the median home value jumps to $346,523.
Off Peak hours, when power is less expensive, are from 8pm-7am (Monday through Friday) and weekends beginning 8pm Friday through 7am Monday.
The bid approved on Wednesday will increase bills for average residential CMP customers by roughly $32 per month. That's a 49% increase in the cost of electric supply. Versant customers will see rates go up around 34%. The standard offer rate is set by the state, not the utilities themselves.
