Maine’s Electricity Ballot Question Faces Legal Snags if Passed - Bloomberg Law News
Published by Bloomberg Law News on October 30, 2023
A bid to replace Maine’s two largest electric companies with a consumer-owned utility would likely face years of legal disputes if passed, attorneys say.
The state’s residents will vote Nov. 7 on a ballot initiative (Question 3) that would create Pine TreePower Co., owned by ratepayers instead of corporate shareholders. The new entity would issue revenue bonds to forcefully buy Maine’s two dominant utilities, Versant Power and Central Maine Power (CMP), using eminent domain.
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