Title

"News & Issues" piece on Energy East's $957 million takeover of Central Maine P

Authors

Lee Burnett

Source

Maine Times

Date

12-9-1999

Pages

11

Abstract

"News & Issues" piece on Energy East's $957 million takeover of Central Maine Power (CMP). Last week, Maine's Public Utilities Commission issued a critical assessment of the deal and laid out its conditions for approval. The examiner's report identified numerous risks, including deteriorating customer service and a less responsive ownership by a year-old company that is willing to pay more than twice CMP's book value, even as it is acquiring other utilities in Conn., Vt., and N.H. Already opposed to the deal are Maine's public advocate, large energy users, independent energy producers and nuclear power watchdogs.

Subjects

Central Maine Power Company, Electric utilities, Energy East Corp, Maine Public Utilities Commission

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