Central Maine Power rakes in $40.5 Million in profits for quarter as people struggle to pay bills
August 18, 2022 On August 16, Avangrid, Central Maine Power’s (CMP) parent company, announced CMP’s quarterly financial report. CMP is the major electricity company in the state of Maine. According to Avangrid, CMP made $40,459,000 in profits over the past three months (April, May, June 2022), up 23 percent from the same period in 2021. In response, Our Power Executive Director Andrew Blunt issued the following statement: “Our utilities are making money hand over fist while Maine people are struggling to make ends meet. Everyday, CMP is sending $444,604 to make Avangrid shareholders and executives richer and richer. In the midst of the inflation crisis we’re in, it’s unconscionable.” “Customers of Maine’s nine customer-owned utilities are paying literally half as […]