ENERGY
PUC staff rule against $75 million for gas extension
The staff of the Maine Public Utilities Commission concluded Wednesday that the state’s electricity and gas customers won’t benefit from a plan to spend up to $75 million a year to help expand natural gas pipeline capacity in New England. The conclusion of a long-awaited report stemming from 2013 legislation was welcomed by clean-energy advocates, who are pushing renewable energy over fossil fuels in order to fight climate change. It was denounced by businesses that use a lot of electricity and natural gas and are desperate to lower their operating costs. The PUC staff concluded that low oil and gas prices, new pipelines under construction or being permitted, and other factors could temper winter price spikes in wholesale natural gas without ratepayers getting involved. Read the story.
Global investor joins UMaine off-shore wind project
A French defense company that has been expanding in marine energy technology has become a partner in Maine Aqua Ventus, the University of Maine-led consortium working to develop a floating offshore wind farm. DCNS Group has announced that it will help develop the project, which in May became one of three offshore wind proposals eligible for nearly $40 million in funding from the U.S. Department of Energy. Maine Aqua Ventus wants to build a pilot, 12-megawatt floating offshore wind farm off Monhegan Island. The project is seen as a critical step toward creating large-scale wind farms in the Gulf of Maine that could bring a vast, new clean-energy resource to the Northeast. DCNS’s role in the partnership is still being defined, according to Maine Aqua Ventus. But its arrival is important because it brings a well-financed, global player with experience in ocean energy to the venture at a critical time. Read the story.
Solar advocates appeal to PUC for delay
A coalition of business owners and nonprofit groups urged Maine’s Public Utilities Commission on Thursday to delay major changes to a policy that allows the owners of small solar energy installations to receive credit for excess power fed back to the electric grid. In April, the Legislature narrowly defeated a bill that would have changed how customers with solar arrays are compensated for energy they send back into the power grid. Failure to pass the bill means the PUC now must review and decide whether to change the policy – known as net metering – that allows homeowners and businesses to recoup some of the costs of installing solar energy systems. But the installers of such systems – often called “distributed solar” because it is decentralized – as well as their supporters fear the PUC could further destabilize an industry heavily dependent on public policies that encourage solar development. More than two dozen businesses and environmental groups – including eight solar businesses – sent a petition Thursday requesting that the commission delay a decision and consider certain issues in its review. Read the story.
REAL ESTATE & CONSTRUCTION
Isleboro mansion up for auction
“The Froggery,” an 8,000-square-foot home filled with original Asian artwork and situated on more than 15 acres of protected mountainside land overlooking Penobscot Bay, is going up for auction June 25. The owner is John Blin, a Wall Street executive who told Portland Magazine that he has relocated to Hong Kong because Asia represents the future of the financial world. Blin purchased the property in 2005. The three-bedroom, three-bath home was completed in 2010, and an adjacent tea house was built in 2015. The home, which was previously listed with Downeast Properties for $10.9 million but did not sell, now will go to an “absolute auction” with no minimum bid. Read the story.
COMMERCIAL FISHERIES
Elver season finishes with third-best haul
Maine’s elver season ended Tuesday, with fishermen netting $13.38 million with of baby eels – the third-highest value in the history of the fishery. More than 980 fishermen fished this season for the baby eels, landing 77 percent more than they did in the 2015 season, which was hampered by a long, frigid winter. Last year, 5,259 pounds of elvers were harvested in a shortened season, compared with 9,330 pounds this year, according to preliminary data from the Department of Marine Resources. The quota for this year was 9,688 pounds. The greater supply also affected the elvers’ per pound price, which dropped from $2,171 in 2015 to $1,435 this year. Read the story.
AGRICULTURE
State to inspect egg farm in wake of sting
State authorities are investigating allegations of animal abuse at a Turner egg farm, while at the same time reassuring consumers that eggs from the facility pose no risk to human health. The Maine Department of Agriculture, Conservation and Forestry released a statement Wednesday saying it is conducting an investigation into a complaint filed by the Humane Society of the United States alleging that hens at Hillandale Farm in Turner are suffering in crowded, unclean cages. The Humane Society conducted an undercover investigation for one month at the egg farm, gathering evidence for its claim. Operators of the farm, part of the nation’s largest network of egg producers and distributors, responded to the allegations Tuesday by inviting the state to conduct an inspection to verify that the farm is run properly. In the release, the state said it regularly inspects the farm, which is owned by Jack DeCoster and operated by Hillandale. Read the story.
HEALTH CARE
$8.4 million Alfond donation earmarked for cancer diagnostics
The Harold Alfond Foundation is donating $8.4 million to The Jackson Laboratory to assist in its efforts to enhance cancer diagnostics and treatment in Maine. The chairman of the foundation’s board of trustees said in a news release that Jackson Lab is uniquely positioned to apply more than 86 years of expertise in cancer research to the improvement of cancer care in the state. Most American cancer patients get their care at community hospitals, in rural or suburban settings, which is especially true in Maine, said Dr. Edison Liu, the laboratory’s president and CEO and director of its cancer center. A spokeswoman for the lab said details about how the money will be used will be released over the next several months, and that the lab is working in close collaboration with the Maine-based oncologist community regarding the optimal approach to advance cancer diagnostics and treatment in Maine. Read the story.
ENTREPRENEURSHIP
Aquaponic fishery wins $50,000 pitch contest
Fluid Farms, an aquaponic produce grower and tilapia fishery, out-pitched the competition Tuesday night to win Gorham Savings Bank’s annual LaunchPad competition and its $50,000 prize. Now in its fourth year, LaunchPad is designed to help fund the growth of one promising, early-stage Maine business each year. Five companies were chosen from a pool of 179 applicants from 70 Maine cities and towns to compete in Tuesday’s final round, a live business-pitch competition before a panel of judges at the University of Southern Maine’s Hannaford Hall in Portland. The five finalists were Fluid Farms, Blue Ox Malthouse, Garbage to Garden, Good To-Go and UniteGPS. The bank has said that all five were chosen because of their focus on sustainability and convenience in a busy world. Read the story.
Family-owned businesses lauded at annual event
Seven Maine family-owned companies were recognized Tuesday night for exemplary business practices at the annual Maine Family Business Awards gala. The event, presented by the Institute for Family-Owned Business in Portland at the Holiday Inn by the Bay, recognized the companies for their demonstrated excellence in family involvement, business success, and commitment to employees, customers and community. A record number of nominations – 180 in all – were submitted for this year’s awards, according to a media release from the institute. The winners were Maine Beer Co. of Freeport; Bowman Constructors of Newport; Fish Bones American Grill of Lewiston; Blue Elephant Events and Catering in Saco; King Eider’s Pub of Damariscotta; Rising Tide Brewing Co. of Portland; and Planet Dog of Westbrook. Read the story.
BANKING & FINANCE
Bank issues new debit cards after retail exposure
Approximately 17,000 Bangor Savings Bank customer debit cards were compromised, prompting the bank to issue new cards. The bank said in a news release Tuesday that because of “the compromise of debit card information that has taken place at multiple local and national retailers,” it would begin issuing new debit cards to “potentially affected” customers. No personal information or Bangor Savings Bank account information is at risk, the bank said. Bangor Savings said customers were being notified individually about the compromise and the issuing of new debit cards. If a customer does not receive a new debit card, no action is required, the bank said. Read the story.
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