AUGUSTA — Maine Public Utilities Commission Chairwoman Sharon Reishus is stepping down next month after a busy two-year period that included oversight of FairPoint Communications’ troubled performance and approval of Central Maine Power’s $1.4 billion power grid upgrade.

Gov. John Baldacci says “Maine has been well-served” under the tenure of Reishus, who has served on the commission since 2003. She was appointed chairwoman in May 2008.

Reishus will step down on July 12. Commissioner Jack Cashman will serve as acting chairman.

Baldacci says he intends to nominate a new commissioner for consideration by the Legislature during a special confirmation session later this summer.