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The Maine Public Utilities Commission says the new standard-offer rates for customers of CMP, and Versant customers in Aroostook County, are about 30% lower than this year's.
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Critics of the Pine Tree Power campaign say the transition to a statewide public electric utility is impractical. But it has been done elsewhere.
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The campaign committees representing Central Maine Power and Versant Power have spent a combined $17.4 million this year and have been funded exclusively by their parent companies, Avangrid and ENMAX, respectively.
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Central Maine Power says it's unaffected by legislation to ban foreign government-owned entities from electioneering in ballot campaigns, but for months it's been lobbying against the effort.
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Ratepayers could see a slightly smaller rate increase than Versant had requested, according to the terms of a settlement filed with the Public Utilities Commission.
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At the center of the case is whether voters will be confused about how the entity would operate when it comes time to vote.
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A Public Utilities Commission hearing in Bangor on Tuesday night was an opportunity for the public to comment on rate increases that Versant Power is requesting.
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In drafting the referendum, Maine's Secretary of State described the proposed power company as “quasi-governmental." But several supporters said the term is unclear and misleading.
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Nearly 18,000 Maine households were still without electricity on Monday afternoon after the weekend storm. But Central Maine Power and Versant Power say most customers should have their electricity back by the end of the day.
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The request comes after the regulators announced electricity supply rate hikes of 49% and 38% for customers of CMP and Versant who choose the standard offer. The new rates take effect next month.