Maine Referendum Would Create Hurdle To Consumer-Owned Utility
AUGUSTA, Maine — Opponents of a proposal to replace the state's privately owned electric companies with a consumer-owned utility have crafted a referendum that could create a new hurdle.
The referendum proposal filed with the secretary of state's office on Tuesday would require voter approval for any quasi-government entity, including a consumer-owned utility, to take on $1 billion or more in debt.
Critics of Central Maine Power and Versant Power want to issue bonds to buy them out and create a consumer-owned utility.
Both proposals are pending with the secretary of state's office. Upon approval, supporters can begin collecting signatures.