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ROCKLAND -- The Rockland City Council is on record in support of replacing the state's two privately-owned electrical utility companies with a consumer-owned entity.
The report details the timeline for when supporters hope to complete the takeover of Maine’s two largest utility companies.
Under Pine Tree Power, Mainers will call the shots, not executives in a boardroom with one eye on Wall Street.
The initial investment will be more than covered by the ratepayer savings over the next three decades.
The prospect of “earning” billions of dollars over time is driving the current owners of Central Maine Power and Versant to fight tooth and nail to maintain control. Regulators guarantee these monopolies generous rates of return on equity invested as recompense for their services. In addition, they are allowed to defer a significant amount of […]