AUGUSTA - In a bipartisan vote, the Maine House advanced a bill on Thursday sponsored by Rep. Seth Berry, D-Bowdoinham, that would restrict future utility ownership by foreign governments.
LD 697 as amended would require the Public Utilities Commission (PUC) to deny any future purchase of a Maine utility by a foreign entity if it risks losses to reliability, customer privacy and safety, regulatory capacity or the state economy.
"Astonishingly to most Mainers, Versant and Central Maine Power are owned by foreign governments," said Berry. "Versant is 100% owned by a city in Canada. Two of the largest beneficial shareholders of Central Maine Power's parent company are the foreign governments of Qatar and Norway. Once approved by our PUC, the monopoly ownership of a Maine public utility can last indefinitely. Our lives and livelihoods depend on our water, gas and electric utilities, along with their increasingly complex and vulnerable control technology systems. In an uncertain world, this bill is vitally needed to protect Maine's ratepayers if today's allies become tomorrow's adversaries."
"Before approving any change in ownership or control of Maine's critical monopoly infrastructure, it is important that we ask our regulators to scrutinize the potential risks and rewards of the transaction in today's challenging and complex world," said Energy, Utilities and Technology Committee member, Rep. Nicole Grohoski, D-Ellsworth. "By clarifying our requirements for the future sale of any utility, this bill would provide an additional safeguard against unintentional risk to ratepayers."
"The people of Maine depend on critical infrastructure in almost every aspect of our lives," said Rep. Jennifer Poirier, R-Skowhegan. "Our electric utility monopolies are owned by foreign corporations and foreign governments. There is nothing written in Maine law that would prevent the sale of these utilities to another foreign entity or foreign government, like China, so long as it is suggested that rates would not increase."
The bill faces additional votes in the House and Senate 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, Grohoski], c. 812-1111
John Bott [Poirier], o. 287-1440