Central Maine Power Co. says it told state regulators it won't ask ratepayers to cover the costs of providing electricity to customers who were not billed.
The Portland Press Herald reports about 3,400 new electricity customers weren't billed for months because of delays the company had in setting up new accounts. The company initially indicated that it might seek to have the lost revenue covered by other customers under a formula that the Maine Public Utilities Commission and CMP use.
On Monday, CMP Vice President Eric Stinneford told the commission that the company will bear the brunt of lost revenue and won't count it against a revenue projection.
The company could pass the losses onto its shareholders through lower earnings, but a spokesperson declined to address that option directly.
Premium content for only $0.99
For the most comprehensive local coverage, subscribe today.