Gerry Chasse, president and chief operating officer of Bangor Hydro-Electric Co. and Maine Public Service, has a personal and keen business interest in the three electric heat pumps newly installed in his home.
Like more than 75% of Maine households, Chasse has relied on oil to heat his home. But in recent years he’s become increasingly frustrated by its steadily rising cost. With the Governor’s Energy Office pegging the average statewide cost of No. 2 fuel oil at $3.74 per gallon, he figures his oil-heating outlay this winter would have been in line with the more than $4,000 he paid last year.
Read more of the Mainebiz article here.