Maine regulators approve new electric rates

The new rates going into effect March 1 reflect a 10 percent drop in the electricity supply costs, which account for about 60 percent of the monthly bills. Transmission and distribution rates, which account for the other 40 percent, also are expected to change on March 1.

Maine Public Utilities Commission Chairwoman Sharon Reishus said the dip in electric rates is good news after several years of rising energy prices.

MPUC also approved new rates for Maine Public Service Co. Those reflect a 2 percent decrease for small and medium-sized customers, and a 6 percent increase for large businesses.