On July 29, 2014, after a 15 month proceeding, the Maine PUC approved a settlement in CMP’s first distribution rate case since 2008. The approved settlement provides a 10.7% increase in distribution rates. Additional revenue will be used, in part, to fund significant investments to improve service for CMP’s customers through a more modernized smart grid. The settlement also calls for the implementation of revenue decoupling, a new storm cost recovery mechanism, and major changes to the rate design – the first since the early 1990s. Combined, these components of the settlement create a more certain regulatory landscape in which it is easier for CMP to operate and better serve its customers at fair and stable rates.