The staff of the Finance Authority of Maine will recommend that Central Maine Po

Authors

Source

Portland Press Herald

Date

8-29-1994

Pages

4B

Abstract

The staff of the Finance Authority of Maine will recommend that Central Maine Power Company's (CMP) request for a $79 million loan to buy out Fairfield Energy Venture, a wood-burning power plant in Fort Fairfield, be reduce by $15 million in order to leave more money available for other electric rate stabilization projects. Central Maine Power Company customers will save $30 million in energy costs from the buyout. The proposed purchase is part of CMP's efforts to get out from under expensive contracts made in the 1980s that obligated the company to purchase electrical power from with nonutility generators. CMP has now restructured or bought out 22 contracts with non-utility generators.

Subjects

Central Maine Power Company, Electric utilities -- Rates, Fairfield Energy Venture -- Fort Fairfield

Recommended Citation

"The staff of the Finance Authority of Maine will recommend that Central Maine Po" (1994). Maine News Index – Portland Press Herald. 14572.
https://digitalcommons.portlandlibrary.com/news_pph/14572