The City Council on Tuesday took a first step to prepare for a plan to reduce carbon emissions, transition to clean energy and become more resilient to climate change by adopting a resolution to partner with the state on a climate action plan called Maine Won’t Wait.
energy
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Oil companies see unprecedented profits as consumer prices soared
On Friday, Exxon Mobil booked an unprecedented $17.85 billion profit for the second quarter and Chevron made a record $11.62 billion.
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Russia’s Gazprom to cut gas flow to Europe to 20% of capacity
Concerns are rising about a possible recession if Europe does not save enough gas and rationing is required to get through the cold months.
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‘We’re in trouble’: Electric rates in Texas have surged over 70% as summer kicks in
This month, the average residential rate listed on the site was 18.48 cents per kilowatt hour. That’s up from 10.5 cents in June 2021.
Posted inBusiness, Local & State
New England fuel dealers plot their future in a rapidly electrifying world
As more mandates and incentives are rolled out to fight climate change, a strategy emerges to cast doubt on electrification while talking up renewable liquid fuels.
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Maine approves $63 million CMP power line upgrade over residents’ objections
Hundreds opposed the upgrade as benefiting a planned land-based salmon farm to be built in Belfast by Nordic Aquafarms, but regulators noted ongoing problems with the aging line.
Posted inBusiness, Local & State
Average CMP bill to decrease almost 3% for home customers starting in July
State utility regulators estimate the average residential customer bill will decrease by $3.40 a month, or 2.7 percent of the total bill.
Posted inBusiness, Local & State
Request for offshore wind power contract raises Maine ratepayer concerns
The proposed contract’s likely impact on Maine electricity customers is being shielded from public view, for now.
Posted inBusiness, Local & State
Average gas price in Maine nears $5 a gallon
‘I want them to install crying towels here,’ said one gas station customer, with per-gallon prices up nearly $2 from a year ago and likely to continue climbing.
Posted inBusiness, Local & State
CMP to seek 3-year rate hike that would raise average bill by $10
Gov. Janet Mills staunchly opposes the utility’s plan for reliability and grid upgrades, saying, ‘I will fight this.’