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Business and Economy

Utilities Regulators Approve Sale Of Emera Maine To Canadian Company

Courtesy Emera Maine

The Maine Public Utilities Commission has approved the sale of the power company Emera Maine to Canada-based Enmax Corp. for $1.3 billion.

Enmax is a wholly owned subsidiary of the city of Calgary, Alberta. Emera serves about 160,000 customers in eastern and northern Maine. As part of the negotiated settlement among the two companies and the PUC, Emera will get rate credits, a freeze on rate increases until Oct. 2021 and various service improvements.

Enmax is also providing an additional $5 million in aid for customers who are eligible for the low-income heating and energy assistance program, or LIHEAP.

In a press release, Emera says employment levels at the company won’t be affected by the transition.