PORTLAND, Maine — Editor's note: The video above aired Dec. 3, 2021.
Maine utility regulators will investigate allegations raised in a lawsuit against the parent company of Central Maine Power.
The investigation by the Maine Public Utilities Commission will focus on whether Avangrid’s expenditures are being passed on to CMP customers, or could be in the future.
The $110 million lawsuit brought by cybersecurity company Security Limits Inc. late last month accused Avangrid Networks Inc. and Avangrid Inc. of rigging bids, racketeering, and buying unnecessary equipment so it could charge higher electricity rates and increase its profits.
Avangrid and Iberdrola allegedly benefitted from this scheme because the companies could report these expenditures to the public utility commissions as a legitimate reason to request rate hikes in the states, like Maine, where they deliver power.
Avangrid denied the allegations, described the plaintiff as a “disgruntled employee” and filed a defamation lawsuit.