MAINE, USA — There's another push to create a publicly owned electric utility in Maine after a previous attempt failed last year.
The money to make the purchases would come from bonds.
Pine Tree Power would be free of state control and its board of directors would be chosen by ratepayers.
A state-commissioned report by London Economics International said a consumer-owned power utility would save Maine ratepayers as much as $9 billion over the next 30 years.
There are also the issues of reliability, costs, and service by Maine's current power utilities.
Both CMP and Versant have said they would fight any consumer takeover attempt.
CMP said in a statement that a private takeover would leave Mainers, "on the hook for billions of dollars with no guarantee of improved reliability or service."
Right now there are already nine consumer-owned utilities in Maine serving about 97 towns and cities.