Bill > LD1592

This bill permits investor-owned transmission and distribution utilities (electric utilities that manage power lines and electricity delivery) to own, control, or have a financial interest in generation assets (power plants or electricity-generating facilities) after March 1, 2026, subject to specific rules established by the Public Utilities Commission. The bill requires the commission to create major substantive rules that protect ratepayers by ensuring they are not responsible for the costs of generation assets unless the commission specifically approves such costs. Additionally, the utility must maintain separate financial accounts for its transmission and distribution operations and any generation assets, and the commission may establish standards of conduct for the utility and its affiliates (related companies with ownership interests). The bill also makes technical amendments to existing laws regarding utility contracts and long-term energy purchasing agreements, removing previous restrictions on utility operations and clarifying the commission's authority to direct utilities to enter into certain energy contracts. These changes aim to provide more flexibility for utilities in managing energy resources while maintaining consumer protections.

Transportation and Infrastructure

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1592&snum=132