Bangor Daily News

Maine legislation deemed critical to Great Northern Paper mill’s future, would allow energy sales

By Fri, Mar 07, 2014

AUGUSTA, ME, March 7, 2014 (Bangor Daily News) -Two companies that would be forced into a revenue-sharing arrangement by a pending bill aimed at keeping the East Millinocket paper mill in business are trying to work out a deal, officials said Friday.

The Legislature's Joint Standing Committee on Energy, Utilities and Technology tabled LD 1792, An Act To Protect Jobs in the Forest Product Industry, to allow Brookfield Asset Management and Cate Street Capital to continue the talks. Committee Chairman Sen. John J. Cleveland, D-Auburn, said Friday that the Legislature gave both sides permission to miss the bill deadline to keep working on the deal.

Gov. Paul LePage first broached the idea of electricity sales at Great Northern Paper Co. on Feb. 12, partly in response to the temporary layoff of 212 workers at the mill, which is owned by Cate Street, a New Hampshire investor. The bill would lift a state law enacted in 2002 that limits the conditions under which Brookfield, which owns hydropower dams on the Penobscot River, can sell electricity to the wholesale market, officials have said.

Bangor Daily News - Legislative committee tables bill deemed critical to East Millinocket paper mill's future

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