Augusta – A bill which would provide businesses in Maine with energy cost relief today received initial passage in the Senate.
LD 1398, “An Act to Reduce Electric Rates for Maine Businesses,” returns $3 million to Maine businesses from the Regional Greenhouse Gas Initiative Trust Fund for fiscal years 2016-2017, 2017-2018, and 2018-2019.
“With every passing day it becomes more clear that we must take action on our state’s high energy costs. This measure puts $3 million back in our local economies to support our job creators,” said Senator Mason. “It is an excellent starting point to provide relief, and I am pleased we were able to reach bipartisan agreement on the legislation.”
In addition to returning funds to businesses, the amended bill which passed the Senate also includes a provision for funds to be allocated to measures that increase energy efficiency and for reducing the cost of residential heating are available to low-income households.
The bill now heads to the House for consideration.