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Central Maine Energy, Versant, their dad or mum corporations and allies say lots lately. In spite of everything, they need to defend their $187 million in annual income. For CMP, income had been greater than all their staff made, mixed!
Certainly one of these falsehoods is that they could not make investments throughout a transition to Pine Tree Energy, delaying wanted grid modernization. Hogwash. Should you ever bought a house, didn’t you clear it up first to get a greater worth? It really works the identical means when a utility is acquired.
When Emera Maine bought to Versant Energy lately, Emera acquired again about $1.50 for each $1 they’d invested. That’s an incredible return — and a cause to speed up earlier than a sale, not decelerate.
There have been three research completed of Query 3. All three assume CMP and Versant will get again $1.50 or extra for each $1 they make investments throughout the transition. And two — the research CMP’s its dad or mum firm didn’t pay for — mentioned the change will take simply three to 5 years.
Query 3 additionally supplies extra sources to the Maine Public Utilities Fee to supervise the shift. It requires the PUC to “take all obligatory actions to make sure that [CMP and Versant] cooperate absolutely, promptly and cost-effectively,” and preserve requiring that they “plan, assemble, function and keep services and … cooperate with clients, mills and different stakeholders…”
Need extra details — not concern and falsehoods? Go to the nonpartisan Citizen’s Information to the Referendum Election, printed at maine.gov/sos. Query 3 is summarized on pages 31-36.
Pine Tree Energy