PORTLAND PRESS HERALD • August 16, 2024
Central Maine Power’s parent company is Spanish energy giant Iberdrola. The company wants to buy the remaining 18.4% of shares of Avangrid Inc., making it privately held. CMP has asked the Maine Public Utilities Commission to waive a state law requiring a review of the transaction. It said the deal would have no impact on the electricity supplier’s roughly 636,000 Maine customers. But the Office of the Public Advocate and the Natural Resources Council of Maine have asked the commission to not grant an exemption. They say the takeover would harm ratepayers by limiting the information available to them about Avangrid’s finances, investments and oversight.