PORTLAND PRESS HERALD • October 21, 2023
The owners of CMP and Versant claim that what has been an excellent investment for them would be a disastrous one for Mainers. The numbers show otherwise. These regulated monopolies enjoy guaranteed rates of return on equity of about 10%. In 2022, according to the annual report of Avangrid, CMP’s base for a specified rate was over $2 billion. The cost of debt issued is also covered by rates charged to consumers. The almost risk-free returns appeal to the shareholders of these utilities. The priorities of these public utilities will only change under new ownership. The need for Pine Tree Power is urgent and the time is now. ~ Marianne Hill, PhD economist, South Portland