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New_Sun6390 t1_jc7p65c wrote

Taking over CMP will cost $13.5 billion. This is to pay for for the substations, poles, wires, energy control center, security infrastrcture (physical and cyber), IT systems, office buildings, etc. Divide that by 668,000 customers and it comes to $20,000 per customer. Before intetest.

Let's say hypothetically that Seth Berry and his merry minions conjure up a plan to spread the payments over 20 years. This still comes to $1000 per customer, per year.

$1000 per customer, per year. That does not even take interest and inflation into account. There is also no indication of how they will improve service or save anyone any money.

Simple math says Pine Tree Power is a horrible idea. So for the existing utility to fight this ill-conceived notion using an organization called Maine Affordable Energy makes perfect sense.

Because simple math proves that Pine Tree Power will drive up the cost of energy even more.

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SplinterLips t1_jc7qgny wrote

Math that uses CMPs own inflated number and doesn’t bother to take into account any revenue that would be coming in. Simple math indeed.

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Dread_Pirate_Wolf t1_jc7sbai wrote

Pine tree power will be Non Profit, so you have to also factor in CMP's profits and remove that from the cost per person of the loan payback for the math to check out properly. I am sure everyone knows Pine Tree Power won't immediately make power cheaper, but what it will do is give the people of Maine more control about their power. For something such as power, a basic human need at this point in society, it shouldn't be a for profit company. By doing this takeover now, it might not make our lives immediately more comfortable but it paves the way for our future generations to have good lives as well.

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6byfour t1_jc9yns3 wrote

How much if your bill at home represents profit?

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Delicious_Rabbit4425 t1_jc82ltp wrote

This seems like a short sighted mind set. I for one would like to improve things for the generations to come. Maybe I will have to spend money now for something better in the future but I’m all for leaving things better than I found them.

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New_Sun6390 t1_jc89lkj wrote

What makes you think a bunch of politicians will make the system better? You DO understand that it is a politician that started this whole mess, right?

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metalandmeeples t1_jc8mby6 wrote

I still agree. Let's vote out CMP in November! We shouldn't need much help given that they are the lowest rated utility in the entire country.

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Delicious_Rabbit4425 t1_jc94oqk wrote

Please enlighten me on why I should agree that this is a mess and why I should follow your corporate boot licker ideas?

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[deleted] OP t1_jc7r05t wrote

[deleted]

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No_Landscape4557 t1_jc7smtb wrote

My guy, that be the bill to just pay off the debt of buying them out without interest. You will still have your normal bill which roughly will be half generator cost(which CMP has no control over) and other half is delivery cost which they have some control.

Pine tree power will by default have to charge you cost to pay back the massive debt, generating power cost, delivery cost, cost to hire people to run the company. And last but not least, charge enough to get the capital to make these “grid improvements”

So your bill going to at minimum double is not triple. So will mine

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[deleted] OP t1_jc7tst8 wrote

I don't think we would see the debt payback in our electric cost cause of the rate increase as you said. It will get hidden in some tax or something.

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No_Landscape4557 t1_jc7u4wt wrote

It’s a debt that will be owed by Pine Tree Power to pay back not our government. All Debts by pine tree power will have to be earned through the electric bill not hidden in some state, paycheck tax removed.

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[deleted] OP t1_jc7v4nx wrote

Yeah that will be a joke; bad deal either way honestly.

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[deleted] OP t1_jc7t77s wrote

This is totally valid. I don't see a concrete way where they are saying this 13.5 billion spent is beneficial. My only take can be PTP raise rates most slowly than CMP would; I would happily eat some of that in taxes or something. Its kinda a shit deal either way; deal with CMP who I think suck and are shady or lets leverage the hell out of a deal that I doubt there is a full plan for.

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