Maine Voters Reject Proposal to Replace Private Utilities with Consumer-Owned Nonprofit Pine Tree Power

Despite intense criticism of Central Maine Power and Versant Power, Maine voters overwhelmingly reject proposal for a consumer-owned nonprofit utility due to concerns over high estimated costs and potential tax increases.

Maine voters have overwhelmingly rejected a proposal to replace Central Maine Power and Versant Power, the state's investor-owned utilities, with a consumer-owned nonprofit utility named Pine Tree Power.
Though Central Maine Power has faced intense criticism and was ranked last for customer satisfaction among large utilities in the East for four consecutive years, 70% of voters opposed the proposed shift to a nonprofit utility.
One of the main concerns from voters was the high estimated cost to buy-out the two existing utilities, which independent analysis suggested could range from $6 billion to $13 billion, potentially leading to initial increases in rates.
The rejection was attributed to campaign spending with more than $34 million spent opposing the referendum. The ratio of spending between supporters and opponents was approximately 1 to 33.
The defeat of the consumer-owned utility proposal in Maine reflects a national trend, with only 9 out of 60 U.S. communities opting to replace investor-owned utilities with locally-owned ones between 2000 and 2019 due to high buyout costs.