Power bills to rise for CMP customers after decision in controversial rate case
Eric Bryant, senior counsel for the Office of the Public Advocate, said the case was the result of various compromises, but that his office was pleased that CMP was willing to settle for $24 million per year compared with their original request for about $40 million.
“We knew that there was going to be some increase and we were pleased it was not as big as CMP initially wanted,” Bryant said.
Why it is in First Wind's best financial interests to have continual increases to rate payers. From their 2010 SEC report."
" If there is a sustained decline in the market prices of electricity, we may not develop and construct our pipeline of development projects and grow our business, which would have a material adverse effect on our revenues. Similarly, if there is a sustained material decline in REC prices, we may not be able to achieve expected revenues, which would have an adverse effect on the investment returns on our projects."
" Although the sale of electric energy has been to some extent deregulated, the industry is subject to increasing regulation and even the threat of re-regulation. Due to major regulatory restructuring initiatives at the federal and state levels, the U.S. electric industry has undergone substantial changes over the past several years. We cannot predict the future design of wholesale power markets or the ultimate effect ongoing regulatory changes will have on our business. Other proposals to re-regulate may be made and legislative or other attention to the electric power market restructuring process may delay or reverse the movement towards competitive markets. If the deregulation of the electric power markets is reversed, discontinued or delayed, our business prospects and financial results could be negatively affected . "
July 31, 2008, First Wind SEC report
Regulation is the only answer to the insanity in Maine's energy policies. We should not be only the subject of profit making from unscrupulous lawmakers and corporations.
The growth of our business depends upon the extension of the expiration date of the PTC, which currently expires on December 31, 2008, and other federal and state governmental policies and standard
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