The Maine Public Utilities Commission says most residential and business customers will be paying less for electricity from the state’s two largest utilities in 2020, according to an article from the Associated Press.

You could soon see a drop in your bill of about 20 percent for residential and small businesses, and even a little more for medium sized businesses with a decrease of about 22 to 23 percent, according to the MPUC.

For CMP residential customers, the anticipated monthly savings will be about a 9.8% percent decrease. Monthly bills are expected to drop from about $95.53 a month to $86.18 a month, the website reports.

PUC Chairman Philip Bartlett II told the Associated Press that the bids reflect supply and demand and will help “residents and business owners better manage tight budgets.”