Dive Summary:
- C.N. Brown Co.is entering Maine's electricity market and will attempt to sell power to residents and small business owners for less than the standard offer rate.
- The company, under its new C.N. Brown Electricity banner, currently has between 400 and 500 customers, but would like to see that number increase to 10,000 during its first year.
- C.N. Brown currently sells energy products such as gasoline, heating oil, propane, wood pellets, and natural gas.
From the article:
Maine has had a competitive electricity market since 2000, when the state restructured its energy market, forcing utility companies such as Central Maine Power and Bangor Hydro-Electric to sell their power-generating plants and hydroelectric dams and stick to the delivery business. While the restructuring was designed to reduce electricity prices for Mainers, a competitive market only developed for the large commercial and industrial customers.
Jones said it took 10 years for a competitive electricity market for small customers to develop because there wasn’t any expertise out there to help a company like C.N. Brown enter the market. ...
