As I understand the proposal (which is the focus of a 2023 referendum drive), we’re being asked if we want to borrow billions of dollars ...
A plan to seize Maine’s electric grid and create a government-controlled power company means billions in debt we will have to pay off through our electric bills.
A scheme to seize Maine’s electric grid by eminent domain would create a government-controlled utility — and we would all be on the hook for the cost. The debt that comes with taking over the utilities – an estimated $13.5 billion – is three times the entire state budget. And that’s a debt it would take decades to pay off through our electric bills.
The people behind this plan say they want to seize the utilities by eminent domain and create what they call a quasi-government utility. What that means to us is a massive debt we would spend decades paying for through our electric bills.