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 ...
Government-Controlled Power
$13.5 billion in debt = higher electric bills
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 government takeover means borrowing $13.5 billion from big banks
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.
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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.