AUGUSTA - Rep. Seth Berry, D-Bowdoinham, presented LD 697, An Act To Enhance the Energy Security of Maine Residents, before the Legislature's Energy, Utilities and Technology Committee on Tuesday.
The bill as amended would require the Public Utilities Commission (PUC) to deny any future purchase of a Maine utility by a foreign entity if potential ownership jeopardizes reliability, customer privacy and safety, regulatory capacity or the states economy.
"Our utilities provide critical services on which our lives and livelihoods depend," said Berry. Today, our two largest utilities are owned by foreign governments, either in whole or in part. This is a new phenomenon driven by the recent rise of globalization, state-owned enterprises and sovereign wealth funds. Our current laws, mostly written in the last century, do not provide the PUC with a playbook to deal with this, so it is our job to step up and protect the interests of Mainers.
Over the years, Mainers have seen their utility providers change hands multiple times, said Sen. Rick Bennett, R-Oxford. Today we let foreign governments own our critical utility infrastructure outright, and also let them spend unlimited money to influence our elections. What could possibly go wrong?
The bill was also supported by advocacy organizations including Sierra Club Maine and the Solar Energy Association of Maine.
Clearly the lack of oversight of our current foreign-owned utility corporations has impacted the citizens of Maine by increasing profits for overseas shareholders at the expense of costs to our ratepayers and to the service of all users, said Becky Bartovics, volunteer leader at Sierra Club Maine. The Public Utilities Commission needs this kind of legislation to be able to move into a more forward-looking analysis as they deal with our future needs.
The Legislatures Energy, Utilities and Technology Committee will hold a work session on the bill in the coming weeks.
Berry represents House District 55, which includes Bowdoin, Bowdoinham, Swan Island and most of Richmond. He previously served from 2006 to 2014, the final two years as House majority leader, and returned to the House in 2016.
Contact:
Jackie Merrill [Berry], c. 812-1111
Michael Fern [Bennett], o. 287-1664