Cohocton Wind Watch: First Wind-Emera partnership under PUC scrutiny
Cohocton Wind Watch is a community citizen organization dedicated to preserve the public safety, property values, economic viability, environmental integrity and quality of life in Cohocton, NY and in surrounding townships. Neighbors committed to public service in order to achieve a reasonable vision for a Finger Lakes region worthy of future generations.


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Saturday, January 21, 2012

First Wind-Emera partnership under PUC scrutiny

A proposal by First Wind and Canadian utility Emera to partner with a third energy company to build and operate energy projects in the Northeast is in danger of being rejected by Maine regulators.

The staff of the Maine Public Utilities Commission has recommended commissioners oppose the deal, saying the risk to the ratepayers exceeds the benefits, according to the Maine Center for Public Interest Reporting. As proposed, the partnership would bring together Massachusetts-based First Wind, Halifax, Nova Scotia-based Emera -- which owns Bangor Hydro Electric Co. and Maine & Maritimes Corp. -- and Ontario-based Algonquin Power and Utilities Corp. They would jointly own and operate First Wind's 370-megawatt wind farm portfolio, and through a joint venture called Northeast Wind, would pump $333 million into First Wind.

The deal, however, raised questions over whether it violates the state's so-called deregulation, or the Electric Restructuring Act passed in 2000, which prohibits utilities from owning both transmission and generation. The PUC staff, however, said the deal would not violate the act, but that it could lead to "preferential treatment by a utility to its competitive affiliates," as well as higher prices. Commissioners are scheduled to review the staff recommendation on Jan. 31.

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Click on link to submit your SEC complaint on the
First Wind Holdings Inc. IPO public offering


TEN Reasons
Why the SEC should not allow First Wind to be listed on NASDAQ

First Wind Holdings Inc. 12/22/09 SEC S1/A IPO Filing

First Wind Holdings Inc. 7/31/08 SEC S1 IPO Filing

May 14, 2010 addition to the First Wind Holdings Inc. SEC S1A IPO Filing

August 18, 2010 amendment 7 to the First Wind Holdings Inc. SEC S1A IPO Filing

October 13, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing

New October 25, 2010 Filing update to the First Wind Holdings Inc. SEC S1A IPO Filing


FIRST WIND Lays an Egg WITHDRAWS IPO
after Wall Street no confidence in company




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