[SheLion]

I'm a dumb illiterate red-state hick. Did Maine deregulate electricity, or what?

Maine government took a gamble and they (WE) lost!

Five years ago, the originators of electric restructuring believed that by now power suppliers would be clambering over one another on price to sell electricity to residences and businesses. The competition to sign up residential users didn't come, however, because many power suppliers believed they couldn't sell enough electricity in Maine to justify the cost of setting up shop here.

Today's vote not only represents a milestone in the history of a restructured electricity market but also starts a discussion on whether Maine residents would have been better off if the market hadn't been dismantled at all.

On March 1, 2000, the state's two major power companies officially changed forever. Bangor Hydro-Electric Co. and Central Maine Power Co. were ordered to sell their power-generation systems but remain standing as regulated transmission companies. 

[Iris7]

Those electrical supply prices you complain about are about normal with the current natural gas prices. The previous price of five cents per kilowatt hour is too low to buy the natural gas to fuel the turbines, much less do any maintenance or pay salaries during the last eighteen months.

The seven and a half cent rate is also too low to cover expenses when burning natural gas at present prices.

The utilities must be borrowing to cover operating expenses during the recent period of very low interest rates. Borrowing has likely exceeded revenue from electricity sales, and will have to be paid off with higher rates down the road.

Wintertime electricity when the peaking plants, that are natural gas or oil fired, are not in service, electricity costs $0.07 per kilowatt hour around here. This number would be much worse except for a nuclear plant that supplies 70% of our power.