MAINE SUNDAY TELEGRAM • December 19, 2021
The proposed referendum to create a consumer owned electric utility is a bad deal for Maine consumers. The creation of our public utility regulatory model is intended to prevent the potential defects of the for-profit model by creating a comprehensive oversight system to ensure that rates are “just and reasonable.” Neither system is perfect, and both depend on political good will and close regulatory scrutiny to ensure benefits for ratepayers. However, the proposal to “take” the private property owned and operated by Versant Power and Central Maine Power has no precedent because of the scope and scale of what is contemplated. The risks to ratepayers with the estimated costs and benefits circulated by the proponents of this scheme far outweigh the promised benefits. ~ Barbara Alexander, former Director of the Consumer Assistance Division of the Maine Public Utilities Commission