Maine Public Utilities Commission

SJW Group Announces 2023 Third Quarter Financial Results and Declares Dividend

Retrieved on: 
Monday, October 30, 2023

SJW Group (NYSE: SJW) today reported financial results for the third quarter ended September 30, 2023.

Key Points: 
  • SJW Group (NYSE: SJW) today reported financial results for the third quarter ended September 30, 2023.
  • The impressive work of our team at SJW Group this year has allowed us to increase our 2023 earnings guidance.
  • Operating revenue for the quarter ended September 30, 2023, was $204.8 million, up 16% compared to $176.0 million for the same quarter last year.
  • Operating expenses for the quarter ended September 30, 2023, were $148.2 million, up 7% compared to $138.4 million for the same quarter last year.

SJW Group Announces 2023 Second Quarter Financial Results and Declares Dividend

Retrieved on: 
Monday, July 31, 2023

SJW Group (NYSE: SJW) today reported financial results for the second quarter ended June 30, 2023.

Key Points: 
  • SJW Group (NYSE: SJW) today reported financial results for the second quarter ended June 30, 2023.
  • As noted in the company's first quarter 2023 financial results, comparisons between 2023 and 2022 operating results are affected by and reflect the delay in San Jose Water Company's (SJWC) 2022 to 2024 general rate case (GRC) proceeding.
  • Operating revenue for the quarter ended June 30, 2023 was $156.9 million, up 5% compared to $149.0 million for the same quarter last year.
  • Operating expenses for the quarter ended June 30, 2023 were $125.7 million, up 3% compared to $122.6 million for the same quarter last year.

LS Power Grid Maine Receives Bipartisan Legislative Approval for Aroostook Renewable Gateway

Retrieved on: 
Monday, June 26, 2023

CHESTERFIELD, Mo., June 26, 2023 /PRNewswire/ -- LS Power Grid Maine, a subsidiary of LS Power, has received bipartisan legislative approval for Aroostook Renewable Gateway, an electric transmission line to interconnect renewable energy resources in northern Maine with the electric grid operated by the New England independent system operator (ISO-NE).

Key Points: 
  • CHESTERFIELD, Mo., June 26, 2023 /PRNewswire/ -- LS Power Grid Maine, a subsidiary of LS Power, has received bipartisan legislative approval for Aroostook Renewable Gateway, an electric transmission line to interconnect renewable energy resources in northern Maine with the electric grid operated by the New England independent system operator (ISO-NE).
  • "LS Power is grateful for the leadership of Senate President Troy Jackson and Senate Republican Leader Trey Stewart for sponsoring L.D.
  • The Aroostook Renewable Gateway will allow us to deliver cost effective, renewable energy from Aroostook County to Maine and the regional power grid," said Paul Thessen, President of LS Power Development.
  • The LS Power Grid Maine project calls for building more than 100 miles of new 345 kV transmission lines and multiple substations to deliver new renewable energy from Aroostook County.

Maine Public Utilities Commission Unanimously Approve Central Maine Power Multi-year Rate Plan

Retrieved on: 
Tuesday, June 6, 2023

Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, announced today that the Maine Public Utilities Commission approved Central Maine Power’s multi-year rate plan.

Key Points: 
  • Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, announced today that the Maine Public Utilities Commission approved Central Maine Power’s multi-year rate plan.
  • Key highlights of the rate plan can be found on the Regulatory page in the Investors section of the Avangrid website.

SJW Group Announces 2023 First Quarter Financial Results, Reaffirms 2023 Guidance, and Declares Dividend

Retrieved on: 
Monday, May 1, 2023

SJW Group (NYSE: SJW) today reported financial results for the first quarter ended March, 31, 2023.

Key Points: 
  • SJW Group (NYSE: SJW) today reported financial results for the first quarter ended March, 31, 2023.
  • Net income for the quarter ended March 31, 2023 was $11.5 million, up 209% compared to $3.7 million in the same quarter last year.
  • Operating revenue for the quarter ended March 31, 2023 was $137.3 million, up 10% compared to $124.3 million for the same quarter last year.
  • Operating expenses for the quarter ended March 31, 2023, was $112.1 million, up 4% compared to $107.7 million for the same quarter last year.

New Wind Power Scholarship Offers Life-Changing Opportunity for $1,000

Retrieved on: 
Friday, March 10, 2023

"This program can change the trajectory of an individual's life," said NMCC Wind Faculty member Wayne Kilcollins, author of Maintenance Fundamentals for Wind Technicians, the textbook used in wind programs throughout the country.

Key Points: 
  • "This program can change the trajectory of an individual's life," said NMCC Wind Faculty member Wayne Kilcollins, author of Maintenance Fundamentals for Wind Technicians, the textbook used in wind programs throughout the country.
  • State and federal investments in domestic renewable energy have renewed interest in wind power, but NMCC's wind program existed long before this recent resurgence.
  • Large-scale, on-shore wind projects like King Pine Wind, which can deliver clean, reliable, and low-cost energy, also require the expertise of highly trained wind technicians.
  • To apply for NMCC's wind power technology program, or if you'd like to learn more about this new scholarship opportunity, please visit nmcc.edu or call the admissions office at (207) 768-2785.

SJW Group 2022 Financial Results and 2023 Guidance Issued

Retrieved on: 
Thursday, February 23, 2023

SJW Group (NYSE: SJW) today reported financial results for the fourth quarter and year ended 2022.

Key Points: 
  • SJW Group (NYSE: SJW) today reported financial results for the fourth quarter and year ended 2022.
  • “SJW Group’s strong results in 2022 will lay the foundation for continued success in 2023 and beyond,” stated SJW Group Chair, CEO, and President, Eric W. Thornburg.
  • SJW Group reported net income of $73.8 million in 2022, or $2.43 diluted EPS, compared to net income of $60.5 million, or $2.03 diluted EPS, in 2021.
  • As previously announced, on January 26, 2023, the directors of SJW Group approved an increase in the 2023 annual dividend of $0.08 per share to $1.52 per share.

LS Power Grid Maine Selected to Build Transmission Solution to Deliver Renewable Energy from Northern Maine

Retrieved on: 
Wednesday, October 26, 2022

CHESTERFIELD, Mo., Oct. 26, 2022 /PRNewswire/ -- Today, the Maine Public Utilities Commission ("Commission") selected LS Power Grid Maine, LLC to build a new transmission solution that will deliver renewable energy from Aroostook County, Maine into the existing New England grid.

Key Points: 
  • CHESTERFIELD, Mo., Oct. 26, 2022 /PRNewswire/ -- Today, the Maine Public Utilities Commission ("Commission") selected LS Power Grid Maine, LLC to build a new transmission solution that will deliver renewable energy from Aroostook County, Maine into the existing New England grid.
  • "LS Power is honored that the state of Maine has placed its trust in us to deliver this critical infrastructure, which will deliver clean energy, while also improving the reliability and resilience of the electric grid," said Paul Thessen, president of LS Power.
  • "We are encouraged that the Commission recognized the value of our proposal and excited to deliver these benefits to Maine."
  • LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector.

Mission Critical Partners Helps State of Maine Accelerate Implementation of Crisis Response Services

Retrieved on: 
Wednesday, August 10, 2022

STATE COLLEGE, Pa., Aug. 10, 2022 /PRNewswire-PRWeb/ -- Mission Critical Partners (MCP) announced today that it will continue to support the state of Maine's Emergency Services Communication Bureau (ESCB) as it implements 911/988 service integration. MCP specifically will help the state develop policies and procedures to address screening calls for crisis-response services. The ESCB is a division of the Maine Public Utilities Commission (MPUC).

Key Points: 
  • STATE COLLEGE, Pa., Aug. 10, 2022 /PRNewswire-PRWeb/ -- Mission Critical Partners (MCP) announced today that it will continue to support the state of Maine's Emergency Services Communication Bureau (ESCB) as it implements 911/988 service integration.
  • MCP specifically will help the state develop policies and procedures to address screening calls for crisis-response services.
  • The new dialing code will route callers to the National Suicide Prevention Lifeline and Veterans Crisis Line.
  • Analyzing the data, developing an assessment of the current state of crisis-response services delivery in Maine, and drafting a comprehensive report.

Supporters of the NECEC Argue November Referendum Is Unconstitutional

Retrieved on: 
Tuesday, May 10, 2022

The court ruled a previous referendum proposed in 2020 with the exact same purpose of blocking the project was unconstitutional and it was removed from the ballot.

Key Points: 
  • The court ruled a previous referendum proposed in 2020 with the exact same purpose of blocking the project was unconstitutional and it was removed from the ballot.
  • NECEC Transmission LLC, and Avangrid Networks urged the Court to look at the referendum as retroactively applied to the NECEC and find it unconstitutional, citing the constitutional protections for vested rights and the bedrock principle of separation of powers as the key arguments.
  • The NECEC project received every local, state and federal permit required and substantial construction has been completed.
  • Supporters of the project agree construction of the corridor will be a benefit to Mainers and that the referendum goes too far.