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sierra club endorses consumer-owned utility in Maine

Posted: December 8 2021
Sierra Club endorses consumer-owned utility in Maine.

In the Portland Press Herald this week Sierra Club officially endorsed Our Power: “The choice is ours. We can be captive customers of CMP and Versant’s profiteers or save Maine dollars while investing in better, more reliable service, and a more rapid and affordable shift to clean energy.” We couldn't agree more, which is why we are so excited to have such an important environmental group join our team.

Sierra Club went on to say: "A consumer-owned utility is a far better business model. Governed by its customers and bold climate mission, [a consumer-owned utility] can support renewables and electrification of homes and transit by borrowing money at a much lower rate and with more willingness – because it’s our utility.”  

Our current investor-owned model is failing: “...they are profit-maximizing monopolies, shareholder-owned companies who are guaranteed a high rate of return on their investments by federal law. In the case of CMP and Versant, they’re owned by foreign banks and governments, and they operate to maximize investors’ profits — not the interests of Maine ratepayers."  

That’s why Our Power volunteers are hard at work collecting signatures in all 16 counties to provide Mainers a climate-forward alternative to CMP and Versant.  These next two months are our final chance to secure our initiative on next year’s ballot. Stay tuned for more information about this exciting development.