The Federal Energy Regulatory Commission (FERC) has conditionally approved transmission rate incentives for the Maine Power Connection (MPC) project sponsored by Maine Public Service Co. and Central Maine Power Co.
The MPC project – with an estimated cost of $625 million – consists of a proposed 200-mile, 345 kV transmission line and the construction of new and upgraded substations.
The companies requested a 1.5% incentive rate equity adder and recovery of prudently incurred costs if the project is abandoned as a result of factors beyond their control.
FERC authorized the requested incentives on the condition that the project be included in ISO-New England's regional system plan as a market efficiency transmission upgrade.
SOURCE: Maine & Maritimes Corp.