CMP Customers To See Lower Bills After Long-Term Contracts Expire


CMP Customers
To See Lower Bills
After Long-Term Contracts Expire

Central Maine Power’s customers will see some significant savings on their bills starting this summer, thanks to the end of expensive, long-term power contracts.

The contracts originated under a federal law that aimed to hedge against price surges seen in the 1970s energy crisis. Maine Public Utilities Commission spokesman Harry Lanphear says decades-long contracts Maine utilities signed with Maine-based biomass generators ultimately locked them into rates that were far above market rates.

“Wood-fired plants that would replace, at least at the time, oil. Everyone felt that oil was going to get to $100 dollars a barrel and of course, as you know, that didn’t happen,” he says.

Customers will save about $28 million now that the “legacy” contracts are expired. And, in addition, the return of excess payments for storing waste at the closed Maine Yankee nuclear power plant adds another $21 million to the kitty.

Lanphear says starting in summer, residential customers will save about 3 percent on their bills. Businesses, meanwhile, will save between 15 percent and 24 percent.

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Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

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(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

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Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

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