Title

"News & Issues" piece on the $957 million purchase of Central Maine Power Compan

Authors

Lee Burnett

Source

Maine Times

Date

12-23-1999

Pages

12

Abstract

"News & Issues" piece on the $957 million purchase of Central Maine Power Company (CMP) by Energy East, which was unanimously approved by the Maine Public Utilities Commission (PUC) last week. Energy East, a New York holding company majority owned by New York State Electric & Gas, claims there will be cost savings as a result of the merger. The PUC attached several conditions to the acquisition, including the right to dock Energy East if the company fails to meet service quality benchmarks, and to order the resale of CMP if Energy East is unresponsive to lesser measures.

Subjects

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

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