zorphium t1_j1yn63g wrote
Can someone explain the finances of a public owned utility? Where do the profits from electricity sales go?
TimeMustLearn t1_j1yq203 wrote
"Profits" wouldn't even be profit any more. Extra money gets reinvested in the system for the benefit of the users.
Ebomb1 t1_j1yrmfw wrote
Back into the system. I've lived in other states with municipal-owned power and everything gets plowed right back into infrastructure.
Antnee83 t1_j1z76ma wrote
The other two comments have it right, but to add to it, if they are making a "profit" that can't be immediately used for infrastructure, the price is lowered because they're charging too much.
zorphium t1_j1zj0ww wrote
Soooo all the comments about electricity prices going up are exaggerated then? If this logic is correct then the current profits that CMP and versant are receiving would just be “replaced” when pine tree power takes over by the cost of ownership.
Back of the napkin but I think important to point out for all the people hating on pine tree.
bigbluedoor t1_j2016yh wrote
the price would probably initially go up for a couple of reasons. First, to begin to pay back the debt, and second, to begin to improve the neglected CMP infrastructure. Linemen could get better pay and benefits as they would be state employees, and that could drive up prices, but to me that is a worthwhile cost. over time rates would go down, likely well below CMP rates, but that could take a decade. This is a great plan and you should vote yes, but you won't see short term savings. Think of this as investing in Maine's future.
WalkerBRiley t1_j20xlza wrote
> Think of this as investing in Maine's future.
And this explains why it will fail, sadly. A good chunk of Maine is of the "fuck the future, I care about today" mindset.
bigbluedoor t1_j218w7a wrote
well there is a short term benefit, which is that outages would likely decrease. maybe that will be enough?
zorphium t1_j20oju6 wrote
I’m in
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