Dead River, C.N. Brown to enter electricity market
Two heating oil and energy companies announced Thursday that they will enter a growing market for wholesale electricity.
The South Portland-based Dead River Co. announced it will begin selling electricity alongside its other energy services in a market that has grown significantly more crowded in recent months.
The Portland Press Herald reported that C.N. Brown Co., based in South Paris, also confirmed on Thursday that it plans to sell wholesale electricity, where prices have fallen faster than the standard-offer power rates from established electricity suppliers. It's the same market where Electricity Maine, based in Auburn, brought on 150,000 customers since 2011.
In mid-September, the Mass.-based fuel supplier Gulf Oil announced that the company's electricity-providing subsidiary — Gulf Electricity — will enter the wholesale electricity market in Maine, which also includes FairPoint Energy, a subsidiary of the telecommunications company, according to the Press Herald.
In its announcement, Dead River officials said the company plans to deliver power to customers in the footprint of Central Maine Power Co. and Bangor Hydro-Electric Co.
In a September commentary in Mainebiz, Dead River President and CEO Robert Moore wrote about the company's need to diversify from its oil-company roots.
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