Baldacci works for Iberdrola (Avangrid) now...so change the rules! Remember that at EUT Today!
Well, Mr. John Baldacci, the major " Pusher " for Wind Scamming, just found his way back to make more money from the heinous Wind Law of 2008 he helped formulate.....
Work as a Vice Chair for Wind from a subsidiary of Iberdrola in Maine, Avangrid!
How thick is the graft in Maine...pretty thick and it wreaks! Crony captialism Rules in Maine!
see below..
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privc...
To review key messages concerning the company with the financial community
Iberdrola USA and UIL Holdings Corporation announced the closing of the merger between their companies effective December 16, 2015. The company will operate under the name AVANGRID Inc. UIL Holdings Corporation became a wholly-owned subsidiary of Avangrid, Inc., as a result of the merger of Green Merger Sub, Inc., with UIL, with Merger Sub surviving as a wholly-owned subsidiary of the company. Upon the closing of the Merger and pursuant to the terms of the Merger Agreement, the size of the board of directors of the company was increased from 9 directors to 12 directors. James P. Torgerson, John Lahey and Arnold Chase, who were members of the UIL board of directors immediately prior to closing, were each elected to the Board. Further, the Board affirmed John E. Baldacci as its Vice Chairman. In addition, Robert Daniel Kump resigned as a director of the company on December 16, 2015. The Board elected Carol Lynn Folt as a director of the company on December 16, 2015. On December 17, 2015, Mr. Sainz Armada resigned from the Board's audit and compliance committee. The Board appointed two new members, Ms. Folt and Mr. Lahey, on December 17, 2015. In addition, upon the closing of the Merger, the Board established an executive committee and an unaffiliated committee, which is made up of independent directors. The Board appointed Messrs. Azagra Blázquez, Galán, Lahey, Sainz Armada and Torgerson as members of the Executive Committee on December 17, 2015, with Mr. Galán serving as the chairperson. The Board also appointed Mr. Chase, Mr. Elías Ayub and Ms. Folt as members of the Unaffiliated Committee on December 17, 2015, with Ms. Folt serving as the chairperson. Upon the closing of the Merger and pursuant to the terms of the Merger Agreement, Mr. Kump resigned as Chief Corporate Officer of the company and Mr. Torgerson, UIL's President and Chief Executive Officer immediately prior to the closing, was appointed as Chief Executive Officer of the company. Additionally, on December 17, 2015, Pablo Canales Abaitua resigned as Chief Financial Officer of the company and the Board appointed Richard J. Nicholas, UIL's Executive Vice President and Chief Financial Officer immediately prior to the closing, as Chief Financial Officer of the company. In accordance with the Merger Agreement, prior to the closing of the Merger, the First Restated Certificate of Incorporation of the company and the Second Amended and Restated Bylaws of the company became effective. Additionally, immediately prior to the completion of the Merger, the Second Restated Certificate of Incorporation of the company was filed with the Secretary of State of New York to rename the company ‘Avangrid, Inc’. In addition, the company adopted the Third Amended and Restated Bylaws to reflect the name change and the establishment of the Executive Committee.
Iberdrola, S.A. (CATS:IBE) will list an 18.5% stake in Avangrid, Ignacio Galan, Chief Executive Officer of Iberdrola, told Reuters, as it looks to raise finance for its multi-billion dollar investment plans. Ignacio Galan declined comment on Avangrid's likely valuation on the New York Stock Exchange, but a market source estimated it at between $10 billion and $12 billion.
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privc...
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Comment
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Comment by Long Islander on January 21, 2016 at 6:55pm
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From September 2009 after then Governor John Baldacci returned to Maine from a European wind "trade mission" hosted by Iberdrola. This was also reported on by Matt Wickenheiser in the Press Herald with Baldacci noting he needed to look into changing the law so companies could own generation and transmission.
"Baldacci also says the state is planning to change local regulations to allow Spanish renewables giant Iberdrola Renovables to invest in wind farms there.
Iberdrola is unable to invest in generation because of the transmission and distribution assets it owns in the state through Central Maine Power; however, Baldacci says legislation being proposed in the state legislature would change the rules for renewable generation"
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Comment by Paula D Kelso on January 21, 2016 at 3:56pm
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Was this written by a politician or a lawyer? Either way, ain't it the appropriate mission statement for a company whose prime objective is to skim the cream and leave the milk to sour?
THE CORPORATE GOVERNANCE SYSTEM
IBERDROLA, S.A. (the “Iberdrola” or the “Company”) and the companies belonging to the group of which the Company is the controlling entity (the “Group”) are committed to a common mission, vision, and values approved by the Board of Directors. The mission of the Group is to create value sustainably for society, citizens, customers, and shareholders, as the leading multinational group in the energy sector providing a quality service through the use of environmentally-friendly energy sources, which engages in innovation and considers its employees to be a strategic assets, fostering their development, training, and conciliation measures, favouring a good working environment and equality of opportunity, committed to social return through all of its business activities, generating employment and wealth in its environment, all within its strategy of social responsibility and compliance with tax regulations.”
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The conflicts of interest are a disgrace, but that's the reason Maine ranks near the bottom of all the states in political integrity.
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Comment by Donna Amrita Davidge on January 21, 2016 at 1:14pm
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basically baldacci is a maine traitor in my eyes
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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/
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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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