Officials seeing ‘green’ over energy merger
Staff Writer
PRESQUE ISLE — Gerry Chasse, president and COO of Bangor Hydro Electric (an Emera company), joined Brent Boyles, president and CEO of Maine & Maritimes Corporation (parent company of Maine Public Service Company), speaking to a group of about 30 business and community leaders from throughout Aroostook County at the May 21 Eggs ‘n’ Issues breakfast held at the Northeastland Hotel.
An Eggs & Issues breakfast May 21 in Presque Isle gave business and community leaders an opportunity to learn more about the benefits of the planned merger between Emera and Maine & Maritimes, parent company of Maine Public Service. Pictured from left are: Gerry Chasse, president and COO of Bangor Hydro Electric (an Emera company), joined Brent Boyles, president and CEO of Maine & Maritimes Corporation.
Those in attendance were provided with an update on the process of Maine & Maritimes becoming a subsidiary of Canadian power company Emera Inc., the owner of Bangor Hydro Electric Co. — a merger expected to be completed by the end of the year.
Chasse said the goal is to provide the best service using the most efficient sources for energy production.
“At Emera, the focus of our work is to grow each of our businesses by using energy to make our customers’ lives better today and our world more sustainable tomorrow. With more reliable ways to store energy, we’re moving into something leaner and cleaner,” said Chasse, in reference to increased use of sources such as wind turbines and wood byproducts to produce energy.
Chasse provided an overview of how Bangor Hydro’s merger into Emera “positively impacted and strengthened our company (Bangor Hydro).”
Emera is “an energy and services company with $5.3 billion (CDN) in assets,” said Chasse, noting electricity is Emera’s core business.
“Approximately 94 percent of Emera’s revenues are earned by our regulated businesses: Nova Scotia Power, Bangor Hydro Electric Company and Brunswick Pipeline. Emera owns assets in: Nova Scotia, New Brunswick, Maine, Massachusetts and the Caribbean,” Chasse said.
Chasse said Emera continues to look for more ways to produce energy, using ‘green’ technology, from wind turbines and biofuels to the use of microwave technology.
“This is promising technology that reduces emissions,” he said.
With the development of the wind farm in Mars Hill, energy produced had to be diverted through transmission lines to Canada because a suitable transmission line between Aroostook County and the rest of Maine did not exist. Chasse said that is a major concern officials believe the merger will solve.
“Our focus will be on transmission of the numerous renewable opportunities — wind, tidal.” We’re looking at ways we can solve the region’s renewable issues — how to increase the transmission range to allow more development,” said Chasse. “Today’s U.S. (energy) renewables have a leg up, with states giving tax credits and other incentives available.”
More ready access to the transmission of renewables on this side of the border gives Maine a leg up in the energy market, said Chasse.
“Bangor Hydro has built more transmission lines in the state than any other utility. We’ve only had one landowner opposed and it wasn’t even his yard. That issue was successfully worked out,” he said.
Investments will be necessary to improve energy transmission. Chasse said Bangor Hydro has seen considerable changes since joining Emera.
“Bangor Hydro has made approximately $300 million in new infrastructure investments since January 2002, including: $100 million in distribution investment, $200 million in other key transmission investments and $20 million toward automated meter infrastructure improvements,” Chasse said.
“Transmission lines are getting older and reliability is an issue, that’s why we’re investing (in new lines),” he said.
While infrastructure improvements are important, Chasse said providing quality service is important also.
“That which is important to us, drives our business. That includes listening, putting our customers first and ensuring safety is a top priority, among other things,” said Chasse.
Walt Elish asked Chasse where Emera stood on the issue of connecting the County to the New England power grid.
“The connection of northern Maine to the rest of the state is inevitable. This is one of the most resource-rich parts of the state (with wind generation),” said Chasse, noting neither Bangor Hydro nor Emera has “analyzed the impact of joining the New England grid.”
“That’s one of the things we will undertake,” continued Chasse.
Don Zillman, president of the University of Maine at Presque Isle, questioned where Chasse saw energy legislation headed in the future. Chasse said the creation of tax credits and renewable energy credits would most likely be the route taken.
Boyles joined Chasse for the question-and-answer session, echoing Chasse’s comments on quality service.
“The company will be hard pressed to lower standards. As we continue to improve, we set the bar higher and standards go up. We don’t expect reliability to go any lower than it is today,” said Boyles.
“Only two other things drive our standards,” said Chasse, “safety and shareholders.”
“We’ve seen renewables leave to benefit others. Are we going to be able to benefit from that? Within 150 miles of Ashland we have competitors paying less (for energy),” said Tim Kelly, an Ashland mill owner.
Boyles said it wasn’t as important where the energy went as the money it brings to Aroostook.
“We’re not as worried about exporting energy. What’s important is the money generated will make the economy stronger. The energy rate may not go down, but property taxes could go down,” said Boyles. “And investment in northern Maine is bound to help our economy.”
REGIONAL ENERGY TRANSMISSION is a concern officials are looking to address as part of the planned merger between Canadian-based Emera Inc. and Maine & Maritimes, parent company of Maine Public Service. Creation of a dependable transmission line would allow continued growth in green energy production, such as wind farms and biofuel facilities.
