Central Maine Power Company (CMP) yesterday announced plans to purchase the Fai

Source

Portland Press Herald

Date

6-10-1994

Pages

3B

Abstract

Central Maine Power Company (CMP) yesterday announced plans to purchase the Fairfield Energy Venture plant in Fort Fairfield from U.S. Energy Corp. in Bethesda, Maryland, and HYDRACO of Syracuse, New York. The CMP would pay $78 milllion for the wood-burning plant, which it would acquire in October. CMP officials said the purchase would save ratepayers $35 million over the next eight years. Under CMP's existing contract with Fairfield Energy Venture, the company would have to pay $113 million for energy generated by the plant. Central Maine Power said it would a purchase of the wood-burning plant, but doubts that it would be successful because of the high costs of operation.

Subjects

Central Maine Power Company

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