Public advocate changes stance on wind deal
The Maine Public Advocate’s Office has reversed its objection to a multimillion-dollar deal between First Wind and Emera Maine for wind turbines across the state.
The Maine Center for Public Interest Reporting noted the public advocate changed its position in a legal brief filed last week after reviewing its previous stance and finding that the deal would not undermine state utility regulations or threaten ratepayers with higher energy prices.
The public advocate’s opinion will be considered by the Maine Public Utilities Commission when it reviews First Wind and Emera’s joint venture again. The PUC’s initial approval of the deal was nixed by the Maine Supreme Judicial Court in March. The state’s highest court found that when considering the deal, the PUC had wrongly interpreted a Maine statute prohibiting utilities from operating as both power transmission companies and power generators.
The deal, which has since closed but could be reversed by the PUC, involved Emera investing $333 million into its joint venture, JV Holdoco, giving the transmission company a 49% stake in First Wind’s projects. At the time of its approval, Emera was the parent company of Bangor Hydro Electric and Maine Public Service, which have merged into Emera Maine. First Wind has maintained a 51% majority state in the Maine subsidiary.
The PUC’s reconsideration of the deal has allowed interested parties, including the public advocate, to file new legal briefs on whether or not they oppose the deal. While the public advocate has changed its position to support the deal, the Industrial Energy Consumer Group has remained opposed, saying it will harm energy customers.
Last week, First Wind announced it had obtained $369 million in financing for construction of a 148-megawatt wind project in Aroostook County. On a separate project, the Boston-based company could face pushback when it is considered for approval by the Maine Department of Environmental Protection in June.
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