New Bill Could Eliminate CMP & Versant Power in Maine
A bill is being introduced in the Maine Legislature that would create a non-profit corporations act that would take over Central Maine Power and Versant Power.
The idea is that the consumer-owned non-profit would do a better job; reduce the price to the consumer, be more reliable and help to meet Maine’s energy goal for clean energy and sustainability.
The language of the bill is still being worked on according to centralmaine.com but it would force CMP and Versant to pretty much sell off to the new non-profit called Pine Tree Power. Pine Tree Power would buy the assets with low-interest bonds and would not involve taxpayer dollars and not be owned by the state. Central Maine Power company is owned by a Spanish company. Versant is owned by a Canadian company.
This is not unheard of in Maine, the story at centralmaine.com pointed out that over 100 Maine communities already get their power from small consumer-owned utilities.
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