CMP’s ownership structure contributed to service problems, audit finds

BANGOR DAILY NEWS • July 12, 2021

An independent auditor’s report released by regulators Monday found that the management structure of Central Maine Power Co. and affiliated companies contributed to the poor service that has affected Maine electricity customers. While Liberty Consulting Group, which performed the audit for the commission, said it did not find Avangrid to be “a fundamentally or irredeemably flawed operation,” it found CMP’s parent company is still struggling to absorb the merged companies and is cutting or limiting resources to meet the earnings expectations of shareholders.