I’ve seen so much misinformation about Pine Tree Power (PTP) in this space, I think it’s time to review the facts, as stated in the bill which would create it: “L.D. 1708, An Act To Create the Pine Tree Power Company, a Nonprofit Utility, To Deliver Lower Rates, Reliability and Local Control for Maine Energy Independence.”
1.) Notice the word “Nonprofit” in the title. Unlike CMP and Versant (and the investor-owned foreign companies that control them), PTP won’t sell shares on the stock market. The only owners they’ll have to answer to are the people of Maine.
2.) The bill states “no use of state funds or tax dollars”; our taxes can’t be used to pay for PTP. It will finance itself “by issuing debt against its future revenues” to buy out CMP/Versant.
3.) Except for the top brass, Pine Tree Power will be legally obligated to hire the same workers who bring us electricity now, at the same pay and benefits, plus retention bonuses. The new utility won’t be starting from scratch; it’ll have the experience and local knowledge that’s already there, but with local control.
4.) Besides the mandate to “Deliver Lower Rates, Reliability and Local Control,” PTP will be required to “ensure timeliness and accuracy in billing, metering and customer service,” “improve the State’s Internet connectivity through more affordable access to utility poles,” and “assist the State in rapidly meeting or exceeding (its) climate action plan goals.”
Vote yes in November. Take back our power.
Claire Prontnicki
Waterville
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