Natural gas pipeline nets initial PUC approval
State regulators have given initial support to a proposed 80-mile natural gas pipeline in central Maine that could begin delivering gas by 2013.
The Maine Public Utilities Commission yesterday granted conditional approval to Kennebec Valley Gas Co.'s proposal for the pipeline, which would serve 12 communities from Richmond to Madison, according to a press release. Kennebec Valley Gas must still receive final PUC approval once its financing and engineering plans are finalized. The Portland-based company must also obtain all the necessary state and local permits.
Last month, a committee representing the 12 communities gave tentative approval to a tax increment financing deal that would return 100% of the tax revenue of the $70 million-$80 million project for the first 10 years, and a lesser amount over the next five years. Its financing also depends on signing up large industrial customers in the region, and Principal Richard Silkman said last month he hoped to have formal commitments from commercial users by the end of the year.
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