HALLOWELL — Electric rates are going down for residential and small commercial customers in Maine.

The Maine Public Utilities Commission says new standard offer prices are going down about 8 percent for Central Maine Power customers and more than 6 percent for Bangor Hydro Electric customers as of March 1.

The total bill for both electric supply and distribution will fall about 4 percent for CMP customers and 3 percent for Bangor Hydro customers.

PUC Chairman Tom Welch says the price reductions will lower electricity costs in Maine by about $20 million next year.