PORTLAND PRESS HERALD • August 30, 2024
Iberdrola, the Spanish conglomerate that owns a majority interest in Avangrid, which owns Central Maine Power, proposes to increase its ownership share of Avangrid from 81% to 100%. Our electric grid will be totally owned by foreign investors. This has important implications for CMP customers. When there is a change in ownership and control of our electric utilities, there’s a requirement for a PUC review process to prove a net benefit to ratepayers. But Iberdrola says it already has “control” of Avangrid, so there’s no need for review. Accountability would be lost. To meet our state climate goals, we need to modernize, upgrade and invest in the grid. Regulators, lawmakers and the public need to have a close working relationship with our electricity providers. The Iberdrola proposal takes us a step away from what we need. ~ Sue Inches, Yarmouth