Emera Maine's Potential Buyer To Face Greater Scrutiny
A union representing Emera Maine workers is expressing concerns about the company's buyer at a time when a state law raises the bar for the sale of electric utilities.
ENMAX, based in western Canada, cut its workforce by 4.5 percent this year and is planning to use debt to finance the $1.3 billion purchase of Emera Maine.
Dick Rogers from the International Brotherhood of Electrical Workers tells the Bangor Daily News that Emera Maine's workforce cannot endure further cuts without harming service. ENMAX insists that there will be no job cuts or rate increases.
The deal will face greater scrutiny under a new law. The law requires that the deal provide a net benefit for Maine ratepayers. The old law required only that the deal not harm ratepayers.