It's happy news for Emera Maine Customers, who will start seeing lower electricity bills after the first of the year.

The Maine Public Utilities Commission announced on Tuesday that both residential and business customers of Emera Maine (in the Bangor Hydro District) will pay lower rates for electricity supply, starting on January 1st, 2020. The change comes after the Maine PUC gathered and analyzed bids from different suppliers, looking for the best option.

Most residential customers will see a savings of $7.45 per month, or about $90 a year. A media release on the Maine PUC website states that these rates are locked in, and should help residents and business owners manage their tight budgets, especially during the winter heating system, when bills typically increase. Emera's Medium Business customers will see an average decrease of about 21%, but that will vary month to month. Large business customers' savings will be 'indexed to market prices' and set in advance of each month.

The prices do not apply to customers who purchase their own electricity supply in the market. Find more information about the rate change on the Maine Public Utilities Commission website.