r/onejoke and Ratio’d again. Give up bro, it’s over, everyone here knows you’re wrong, you’re on the wrong side of history and you always will be. You’ll be forgotten as an old fashioned bigot and no one will want to wipe your ass in your sunset days because you’re an insufferable, crusty, unwashed taint. You will die alone, and when you do, everyone will breathe a sigh of relief that you are gone. What a sad waste of a life.

LOL no it’s not. You are looking at one out of thousands of cost elements.

You should divorce from CMP through the legal and ethical process that already exists, but there is nothing simple about this deal. I can’t tell if the people presenting it are naive or dishonest. Maybe both.

I’m 100% in favor of revoking CMP’s franchise or rejecting every rate hike request until they leave voluntarily. You can then have an orderly sale of assets with PTP being one bidder out of several. Then you can choose the best mix of cost, resource plan, etc. vs just pointing at one entity and saying they win.

At my company anything over $50K requires multiple bids, and you guys want to sole source a contract with a value greater than the entire 2023 state budget. And that’s just the purchase price - you need a shitload of capital too.

It’s great man. During my first time when I was thinking about joining he did a private lesson with me. Let me throw him around a bunch until I was hooked. I love it there

My critical thinking skills are pretty simple. It all breaks down to one thing, when the government does anything. It's completely inefficient and over expensive, but as i said before why dont YOU try living here before you instantly decide you want things to change, for fuck sake you dont even know the issue and your all for it. in your original post, you didn't even know who the power companies are, yet you're for change. Your frothing at the mouth at the idea of a company making a profit. Your ideals are not welcome north of Agusta. Before you try and tell me how things work here, you should try figuring them out for yourself. Im assuming you probably dont even know what gender you are by the nonsense that you spew without, knowing any facts or even the basic issue,

I should have said beaches not ocean...I couldn't find anywhere to enjoy the ocean.

r/onejoke but it’s ok, your damaged brain literally can’t come up with something more clever, do basic critical thinking skills, or understand simple human empathy. I’m not going to sit here and argue with someone whose brain is literally physically incapable of these basic things, it’s like arguing with an underdeveloped, drooling toddler. How about you go lie down for a nap and let the adults talk ?

Also, get Ratio’d

Came here to say this too! My guy LOVES that gym.

There is a running group that meets every Saturday morning by the river path. I haven’t gone yet but it looks fun. They post pictures on Facebook and it’s a nice mix of people. https://www.parkrun.us/merrymeeting/

Sorry, did the facts hurt your snowflake feelings?

I do not work for CMP or Versant but its just simple to know that there is not a contract company large enough in the state to handle it dame gose with all the new internet builds around most of them are OOS contractors its not fake reasons i do work utility work and i do have first hand insight on work done by contractors and by in house guys and it dosnt matter who what when or where the contractors always give zero fucks and leave things unsafe and slapped up to poles after storm repairs.

This is correct. If PTP were created it would essentially be an elected board overseeing the utility assets and operations, and they’d have to hire a management company. When Long Island Power Authority — the only example of a consumer takeover, rather than a utility that was founded as consumer owned from the outset — was created, they contracted first with National Grid, then fired them after mismanagement led to a dismal response to Hurricane Sandy (among other issues, including continuously mounting debt) and then with Public Service Enterprise Group (PSEG), the largest utility in neighboring New Jersey. It did not go well. So, the “operator” contracted isn’t likely to be a Maine company, because there will be no more Maine IOUs to bid for such a contract. Maybe another utility operating in New England would bid, like Eversource or Liberty or National Grid or PPL, but that probably depends on whether they’d be able to profit sufficiently and whether working for the elected board seemed like a sound business move.

While PTP says all CMP and Versant’s existing employees (other than management) would be allowed to stay on, the IBEW has pointed out that there’s no way to guarantee that and there’s a very good chance if they were they wouldn’t be allowed to organize, so this is potentially the biggest anti-union proposal Maine will ever consider.

Also I’m undecided on the referendum—I like the concept but am curious whether these issues that were raised when it was in the legislature have or will be addressed. Another issue for another post is why the elected board would have two seats per county — that’s flagrant rural gerrymandering! The 17k people who live in Piscataquis County would have the same number of board seats as the 305k people in Cumberland County.

There was a London Economics report done a few years ago to look at the effects of LD 1646 which was a similar idea to Pine Tree Power, consumer owned T&D services in Maine. The funding is a little different structure in this proposal but the report shows that even if it’s funded by tax-exempt revenue bonds, utility rates are likely to stay higher until the loans are paid off down the road. The interest rate on the bonds would likely be cheaper than CMP or Versant’s allowed return on their rate bases, but the assets will need to be bought out at a higher market value, not their current book values, which could offset the difference in interest and return rates. On the flip side if they were not subject to state taxes that would help lower utility rates. I don’t know if financial projections have been done yet for Pine Tree but it’s hard to really see these effects without a laid out plan.

The report also argues that at the very least taxes will likely go up, not to fund the new company, but to offset lost tax revenue from the privately owned T&D companies.

Another interesting point is that if they were consumer owned they would not be subject to the same PUC rate scrutiny, and the board would likely be made up of the governor’s choosing, so transmission and delivery rate structure could be influenced more by board members.

I’m not sure where I stand on this yet, but it seems like there are a lot of questions still to be asked and this London Economics report at least helps walk through the areas to keep in mind.

Sorry I didn't read all the letters and was going to tell you to go to Lewiston for that but then I read the last "J" and also saw you are already there haha

My buddy has been training there for a few years. He loves it. Good group of guys from what I hear.

Yea he usually teaches on Fridays. He's a bear of a guy like 6'6 and about 260 and goes by Jon. He's on my disc golf team, super ftiggen nice guy but wouldn't want him on the other side of the mat!

Sorry, Lewiston but yes same company

Is it the one in turner? If so I have a buddy who teaches there

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What makes you think PTP would only have OOS workers? You must work for CMP and are worried about a cut in pay and benefits. I get it if you are, but jeez, just be honest about it, don’t make up fake reasons to not do this.

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>who sets the price of these assets

Agreement between the various parties, but if there's disagreement then the courts. And, as with any emanant domain takeover, the government generally pays above value. I've seen everything from 130% to 200% of the value thrown around in reading about this.

With a little searching, Versant was CAD$73 million net profit in 2022 per Microsoft Word - 2022 YE FS - March 8 (enmax.com). CMP had net profit of $132 million in 2021 per CMP 2021 Q3 Notes (q4cdn.com). Call it $185 million total profits annually for both.

Some back of the envelope math. Based on the LEI report on Pine Tree Power's website, it appears the cost to buy out Versant and CMP will be $3.5 billion. At the 3% they say they'll get on the loan, that's $11.3 million every month for a simple 50-year loan repayment, or $135.6 million every year. That leaves $49.4 million of extra profit; more if AVANGRID/Iberdrola and Enmax have debt from their acquisitions.

So, if you do the math there's profit in this acquisition. And that was a super simplified calculation not taking into account anything related to interest, inflation, etc.

Per the LEI report they indicate that electricity rates would initially be higher but would then stabilize and break even in 9 years; then reduce forever after that.

Thanks for the exercise as it made me dive deeper into this, but I believe you're 100% wrong. It will not take 200 years before a profit is seen.

Damn you’re a lead drinking mouth breather aren’t ya? Get bent

Them there folks from away know betta, or at least like to think they do.

You're no different than the rest come here and instantly want to change things without knowing the facts or what its like to really live here, people like you are what has sent this state into a down hill spiral. You think the government controlled power is such a great idea. Let me tell you a few facts. 1. 5 days without power is common here. If you can't handle it, go home. 2. Maintenance and repair will be awarded to the lowest bidder (contractors) when there is a major storm in the south contractors go there to make money so if 5 days is to much for you, you better brace for double that i have worked hand and hand with contractors and they dont care about you or the old lady down the street but guys who work for the Company and live here do. 3. The state can't even fix the roads here. What makes you think they can handle running the power grid.

Using terms like "capitalist fascist hellscape" leads me to believe you went at least 2 states to far north...