Here are my thoughts regarding the proposed creation of a consumer-owned utility (“Commentary: A consumer-owned utility could invest in Maine’s economy,” June 6):

One would think that Maine would be striving to attract private investment, not kicking it out.

Contrarily, if socialization is the goal, why stop at utilities? Why not nationalize banks and other private corporations? The arguments presented (perceived excess pay, shareholder dividends, etc.) don’t seem to be limited to Central Maine Power.

A noted source of usable funds is high wages for management, while CMP is blamed for failure to “increase compensation for line workers.”

When one hears proposals that CMP’s “excess” funds could be diverted to general funds, run for the hills. Politicians covet nothing more than a new, unfettered source of money.

Vero Beach, Florida, of which I have knowledge, finally, last year, successfully voted out its municipal public power company (the second-highest rates in Florida) and brought in Florida Power & Light (a private company) and enjoyed a 30 percent rate cut.

Per the column, public ownership is apparently going to accomplish wondrous things with CMP’s “excess” profits:

• Support renewable energy.

• Reinvest in better service.

• Lower price.

• Redirect funds into the state or municipal general fund.

• Earmark funds for alleviating energy poverty.

• Investing in grid reliability.

• Building out public transportation.

Do we really think there is that much excess money to be gleaned from reduced salaries and captured dividends after adjusting out taxes that are currently being received and higher benefits that will need to be paid?

Gerry Peterson

South Casco

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