Maine Public Service Company Explores Merchant Line
29 Janvier 2010 - 10:15PM
Marketwired
Maine Public Service Company (MPS), a subsidiary of Maine &
Maritimes Corporation (NYSE Amex: MAM), is exploring the
development of an electric 345 kV transmission solution for
northern Maine as a privately funded merchant line. The project
contemplates 26 miles of transmission from Houlton, Maine to
Haynesville, Maine, linking Maine Public Service to the New England
electric power grid and interconnecting wind generation in northern
Maine.
This project allows MPS to remain in the New Brunswick Balancing
Authority, eliminating the impact on northern Maine ratepayers
associated with MPS joining ISO-New England. The project also
improves northern Maine's access to competitive energy resources,
resolving the lack of market liquidity that has plagued the region,
provides northern Maine generators a direct path to the New England
market, and promotes renewable development in Aroostook County.
MPS submitted an application to ISO-NE on January 22nd to
initiate an electrical study for this project.
About Maine & Maritimes Corporation:
Maine & Maritimes Corporation (NYSE Amex: MAM) is the parent
company of Maine Public Service Company, a regulated electric
transmission and distribution utility serving approximately 36,000
electricity customer accounts in Northern Maine. MAM is also the
parent company of MAM Utility Services Group, an unregulated
corporation that provides electrical services, including
transmission line and substation design and construction. Corporate
headquarters are located in Presque Isle, Maine, and the corporate
website is www.maineandmaritimes.com.
Cautionary Statement Regarding Forward-Looking Information:
Except for historical information, all other information
provided in this news release consists of "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Although Maine & Maritimes Corporation
believes that such statements are based on reasonable assumptions,
any such statements involve uncertainties and risks that may cause
actual results to differ materially from those projected,
anticipated, or implied. MAM cautions that there are certain
factors that can cause actual results to differ materially from
forward-looking information that has been provided, including,
without limitation, potential changes in applicable laws and
regulations, potential changes in Management, its ability to raise
necessary operating and growth capital, increased interest costs,
its ability to execute its business plans in a timely and efficient
manner, the loss of customers and other factors that are more
detailed in MAM's filings with the Securities and Exchange
Commission.
MAM-G = General release
For More Information Contact: Virginia R. Joles Director of
Communications Board Relations and Economic Development Tel:
207.760.2418 www.maineandmaritimes.com
Maine & Maritimes Corp. (AMEX:MAM)
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