Summit scales back plans in two areas
Summit Natural Gas of Maine is scaling back build-out plans for two of its target regions, citing a lack in demand, according to two separate reports.
The Morning Sentinel reported last Thursday that Summit is reducing its 2015 build-out plan in the Augusta and Waterville areas. Mike Duguay, Summit’s director of business development, told the newspaper that customer demand for natural gas isn’t as high because of low oil prices.
The newspaper noted that Summit’s main competitor in Augusta, the Iberdola-owned Maine Natural Gas, is still moving ahead with expansion plans regardless of current oil prices because the company expects to pick up more customers when natural gas becomes cheaper than oil.
The Forecaster on Tuesday reported that Summit is reducing its build-out plans in Cumberland, Falmouth and Yarmouth by 15% this year.
Cumberland Town Manager Bill Shane told the newspaper that an increase in construction costs and a decrease in heating oil prices were the likely culprits for Summit’s reduction plans.
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