Central Maine Power utility lines are seen, Wednesday, Oct. 6, 2021, in Pownal, Maine. Maine's highest court is scheduled to hear arguments Tuesday May 10, 2022 on an attempt to overturn a referendum that ended a $1 billion power line to tap into Canadian hydropower. Credit: Robert F. Bukaty

PORTLAND, Maine — Central Maine Power said customers are going to get a break on their bills starting next month.

Electric rates will dip 5.5 percent on July 1 as part of the company’s rate reconciliation and adjustment process, the company said Tuesday.

That amounts to about $3.40 per month for a typical customer, helping to offset a $30-per-month increase in the “standard offer” rate on Jan. 1.

“This is welcome news for many Mainers as they face increasing costs across the board,” said Joe Purington, CMP president and CEO.

Electric bills are divided into two portions, the transmission portion which goes to CMP, and the electricity portion that goes to producers. The latter has been driven up by higher natural gas rates.