Why investment profit is at the center of CMP’s rate hike
Central Maine Power Co. is asking state regulators to raise the cap on revenue it can make back from its investments in Maine’s electrical infrastructure.
That has become a sticking point in the monthslong debate as CMP is asking the Maine Public Utilities Commission to approve an $18 per month increase in the average household’s distribution bills.
That would give the company $189 million in new revenue to pay for grid upgrades, added staff and storm recovery. Raising revenue on CMP’s past investments accounts for about a third of that increase, according to the Office of the Public Advocate.
Groups representing consumers in the case, which will extend well into next year, have argued that CMP doesn’t need more profit — not while Mainers struggle with the rising cost of living. CMP says the jump keeps the utility’s returns below industry standard, and that it’s necessary to compete for investment........................................
.........................If regulators determine all of CMP’s recent infrastructure investments were sensible, that rate base could be as large as $2.27 billion, up 32% from the current $1.69 billion, the Office of the Public Advocate said. Sanborn said CMP has built much more than it told regulators it would in its 2022 rate case, leading to the increased rate base.
A half-percent return increase, with a $2.27 billion rate base, would equal a jump in revenue of more than $60 million....................................................Iberdrola, the Spanish energy conglomerate, bought CMP parent Avangrid in 2024, and its biggest shareholders are Qatar and the private equity firm BlackRock.................................................if CMP’s proposal were approved as-is by the PUC, the average customer would pay about $70 more annually for CMP’s investment return, out of a total $216 increase.
Read the full article at https://www.pressherald.com/2026/08/24/why-investment-profit-is-at-...
*************************************
Fair Use Notice: This website may reproduce or have links to copyrighted material the use of which has not been expressly authorized by the copyright owner. We make such material available, without profit, as part of our efforts to advance understanding of environmental, economic, scientific, and related issues. It is our understanding that this constitutes a "fair use" of any such copyrighted material as provided by law. If you wish to use copyrighted material from this site for purposes that go beyond "fair use," you must obtain permission from the copyright owner.
Views: 82
Comment
-
Comment by Dan McKay on August 25, 2026 at 6:58am
-
Grid Upgrades: How much is attributed to solar farm connections?
Added Staff: How much is directly related to policies made in Augusta?
Storm Recovery: Check the invoices
RATE OF RETURNS ON INVESTMENTS:
Could this be a diversionary tactic to avoid the issues with the rising costs due to actions taken by the Maine Legislature, the PUC and the OPA?
The electric utilities are the most regulated companies in Maine. Maybe it is the regulations that is costing too much.
BTW: The PUC and the OPA budgets paid by ratepayers go up every year.
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(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/
Not yet a member?
Sign up today and lend your voice and presence to the steadily rising tide that will soon sweep the scourge of useless and wretched turbines from our beloved Maine countryside. For many of us, our little pieces of paradise have been hard won. Did the carpetbaggers think they could simply steal them from us?
We have the facts on our side. We have the truth on our side. All we need now is YOU.
“First they ignore you, then they laugh at you, then they fight you, then you win.”
-- Mahatma Gandhi
"It's not whether you get knocked down: it's whether you get up."
Vince Lombardi
Task Force membership is free. Please sign up today!
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/
© 2026 Created by Webmaster.
Powered by
You need to be a member of Citizens' Task Force on Wind Power - Maine to add comments!
Join Citizens' Task Force on Wind Power - Maine