LD1412

Increases the allowable contingency reserve fund for Maine's consumer-owned electric transmission and distribution utilities.

The bill amends Maine's consumer-owned electric transmission and distribution utilities' contingency reserve fund regulations. It raises the allowable addition to yearly revenues from 25% to 50% for capital purposes. The fund's balance cannot exceed 50% of yearly revenues over operational costs, excluding purchased power supply costs. Any surplus must offset future revenue requirements in rate setting.