AUGUSTA — Maine regulators on Thursday rejected a proposal from a Canadian company to buy one of the most important utilities in the state.
Enmax of Calgary, Alberta, wants to buy Emera Maine from its Nova Scotia-based parent company for about $1 billion.
Emera has more than 150,000 customers and serves the northern and eastern parts of Maine.
But the Maine Public Utilities Commission voted 2 to 1 against the proposal. The commission cited risks to ratepayers, one of which was whether the purchase would make system upgrades less likely, the Bangor Daily News reported.
One of the commissioners also raised a concern about Enmax’s plan to fund most of the acquisition by debt.
The two utilities announced the sale about a year ago. Both companies said they still plan to go ahead with the sale and keep working with the commission. Commissioners said the plan could be accepted with changes.
Send questions/comments to the editors.
-
Local & State
Morning fire destroys garage, two vehicles in Augusta
-
SportsAustralian Open: Djokovic deported for being unvaccinated
-
Local & State
Augusta’s parking requirements hinder housing development, official says
-
Local & State
Clinton Police Department upgrades body cameras for greater accountability, safety
-
Local & State
Maine COVID-19 hospitalizations remain high
Success. Please wait for the page to reload. If the page does not reload within 5 seconds, please refresh the page.
Enter your email and password to access comments.
Hi {SUB NAME}, to comment on stories you must . This profile is in addition to your subscription and website login.
Already have one? .
Invalid username/password.
Please check your email to confirm and complete your registration.
Only subscribers are eligible to post comments. Please subscribe or login to participate in the conversation. Here’s why.
Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.