The Central Maine Power Company (CMP) claims, in one of their political ads, that the New England Clean Energy Connect (NECEC) project would invest $200 million to upgrade the Maine energy grid. This would require all the profit ($60 million per year) from the NECEC for 3.33 years to be diverted from investors to the Maine energy grid. Who really believes that would happen?
In 2018, CMP announced they would like to invest $214 million in the Portland-area electricity infrastructure upgrade (see March 13, 2018 article from Fred Bever). They said they could reduce that estimate by $16 million to a total cost of $198 million through unspecified non-transmission alternatives. Sound familiar?
This energy grid upgrade would be paid for by ratepayers. Legislators and the Public Advocate objected to the proposal, because it was too expensive and would not use smart-grid technology. As a result, the proposal went underground, as it was deemed confidential.
This Maine energy grid upgrade has now resurfaced in political ads from CMP that promote the NECEC. If the NECEC becomes a reality, Avangrid/Iberdrola investors would receive their substantial return from the NECEC; and, any future upgrade to the Maine energy grid would be borne by ratepayers, as CMP had originally envisioned.
It's a bad deal for Maine!
John Nicholas
Winthrop
"tactic" - Google News
April 09, 2020 at 09:03PM
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Letter to the Editor: CMP using bait and switch tactic to sell NECEC - Daily Bulldog
"tactic" - Google News
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