'Pine Tree Power' Gets Crushed Under Mountain Of Corporate Cash
November 11, 2023
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3:33Now Playing'Pine Tree Power' Gets Crushed Under Mountain Of Corporate Cash
YouTube Description
as posted by the channelA listener from Maine calls in to discuss a then-upcoming referendum that was appearing on the state ballot in last week's midterm elections. Maine voters rejected the proposal for "Pine Tree Power," a publicly-owned electric utility, in a referendum. Question 3 presented voters with the choice of maintaining the existing investor-owned utilities, Central Maine Power (CMP) and Versant Power, or establishing a unique statewide consumer-owned utility named The Pine Tree Power Company. The innovative plan aimed for a complete takeover of CMP and Versant to form a state-level public power company, but with the "No" vote prevailing, the current status quo is upheld. CMP and Versant will remain the dominant utilities in Maine, providing power to different regions. The rejection highlights the persisting monopoly of power delivery in the state and maintains the regulatory role of the Maine Public Utilities Commission (PUC) in overseeing these utilities' operations, rates, and service standards.
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