Compare Maine Electric Rates and Prices

• The latest average residential energy rate in Maine is 22.25 cents per kWh (33% higher than the national average of 16.68 cents per kWh).
• Maine’s average commercial electricity rate is currently 18.34 cents per kWh (44% higher than the national average of 12.76 cents per kWh).

These rates are based on the latest data from the Energy Information Administration (EIA).

Maine residents have several choices when shopping around for rates and plans on the Choose Energy marketplace. Here are examples of what is available:

• Fixed-rate plans: These plans are usually the least expensive and offer the same energy rate throughout the length of the plan, which ranges from 6 months to 36 months. Fixed-rate plans generally have cancellation fees, but they are optimal for consumers looking for protection against rate increases.
• Variable-rate plans: Depending on the wholesale energy market, customers could see variations from month to month on a variable-rate plan. These plans are optimal for those looking for a flexible plan that does not charge a cancellation fee.
• No-deposit and prepaid plans: Customers with high credit scores may qualify to skip the upfront deposit when starting a fixed-rate plan. You can also consider other no-deposit options, such as a prepaid plan. On these plans, customers prepay for their electricity and refill their accounts as needed.
• Renewable energy plans: Maine’s renewable energy is a thriving market, with 64% of the state’s net electricity generation coming from green energy sources like solar energy in 2022. In 2019, Maine’s governor signed a bill into law to achieve several clean energy goals, one of which aims to source 80% of the state’s energy from renewable energy by 2030.

At Choose Energy, we aim to be your ultimate resource for understanding deregulation and securing an affordable energy plan. For more information, explore the following guides:

• How do I choose the best Maine energy plan?
• How do I reduce my electricity bill?
• How do I switch energy providers in Maine?
• What does energy deregulation mean?
• What do I do when the power goes out?

There are several contrasts between utilities and electric companies in Maine. Here are the most notable differences to keep in mind. 

Energy suppliers

An energy provider is a company that sells you power and manages your account. There are nine electricity suppliers in Maine. Here are some of the best Maine electricity suppliers, some of which you’ll find on the Choose Energy marketplace:

• Clearview Energy
• SmartEnergy
• Electricity Maine
• XOOM Energy

Currently, SmartEnergy has the cheapest electricity in Maine on Choose Energy, but the most affordable energy provider may vary depending on your utility provider and term length.

Utility providers

Your utility company is responsible for maintaining the power lines and infrastructure. If there is a power outage, customers must call their power utility company. Here are the two utilities in Maine:

• Central Maine Power
• Versant (Bangor Hydro Electric)

In Maine, if you do not sign up for an energy plan on your own, your utility company will enroll you in an electric plan with a default rate. This rate is also called the standard offer rate or price to compare. It is subject to change often and can vary depending on your utility company.

• The price to compare for Central Maine Power is 10.836 cents per kilowatt-hour (kWh).
• The price to compare for Versant Power BHE is 10.763 cents per kWh.

The average monthly electricity bill in Maine for residential customers is $129.72. We calculated this electric bill by multiplying the average energy usage in Maine of 583 kWh with the current electric rate of 22.25 cents per kWh. Although Maine has high electricity prices, residents typically consume much less energy than most other states.

Maine deregulated its energy market in 1995, but consumers couldn’t access energy choice until several years later. Energy deregulation allows Maine businesses and residents to choose their energy plans from a range of providers competing to offer the best rates. 

When you choose an energy supplier, it will contact the utility company to set up services. Your energy bill will include costs for distribution and supply. Utilities charge distribution fees for the cost of transporting energy to your home, and providers charge you for electricity consumption.

Energy deregulation allows you to secure a lower rate during periods of low energy demand, like spring and fall. Choose Energy can help you find the best energy provider in Maine when you enter your ZIP code. To compare rates and plans, follow these steps:

• Enter your ZIP code on this page to browse available rates and plans in your area.
• Once you select a plan, call or sign up online in minutes.
• Your new supplier will reach out to the utility to coordinate your service. Enjoy the savings from your new plan.

How long does it take to switch energy providers?

Switching power companies in Maine is a quick and easy process. The whole switch shouldn’t take more than a few days to a couple of weeks. You can ensure the switch goes smoothly by contacting your existing energy provider a few weeks before the switch and choosing a plan up to 90 days before you cancel your old plan. 

How can I lower my electric bill?

There are many ways you can lower your electric bill, including switching to LED light bulbs, upgrading outdated appliances, sealing drafts, and switching to double-pane windows. You can also lower your electric bill by finding a lower rate on the Choose Energy marketplace.

Where do I find my plan documents?

You can find your plan details in the Terms of Service (TOS) document. When you enter your ZIP code on our site, click “More details” to expand your options. Open the TOS link to read important information about your plan. You can find your price per kWh, early termination fee, deposit requirement, and more.