November 20, 2008
FERC OKs incentive for transmission project
By The Mainebiz News Staff
The Federal Regulatory Commission has given a preliminary go-ahead to transmission rate incentives to support the Maine Power Connection Project, which would link northern Maine electricity users with the Maine grid.
The project is a joint effort by Maine Public Service, a subsidiary of Maine & Maritimes Corp., and Central Maine Power Co.
The companies requested a 1.5% return on equity adder and recovery of some costs if the project is abandoned because of factors beyond their control, reported Marketwatch.com. FERC authorized the incentives on the condition that the project is included in ISO-New England's Regional System Plan as a market efficiency transmission upgrade.
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