FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: July, 1995
MAINE PUBLIC SERVICE COMPANY
(Exact name of registrant as specified in its charter)
Maine 1-3429 01-0113635
(State, or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
209 State Street, Presque Isle, Maine 04769
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code 207-768-5811
Current Report, Form 8-K for Date of Report:
Maine Public Service Company July, 1995
Item 5. Other Material Events
Maine Public Service Company To Place Steam Units at the Caribou
Generating Facility on Inactive Status.
At a regular meeting on July 7, 1995, the Company's Board of
Directors authorized placing on inactive status Steam Units 1 and
2 of the Company's Caribou Generating Facility in Caribou, Maine.
The Company will lay-up the Units by January 1, 1996 and expects
that they will remain inactive for five years or longer. These two
Units, which represent 23 MW of capacity, have become surplus to
the Company's needs due to the closure of Loring Air Force Base and
the loss in 1996 of the Company's largest customer, the Houlton
Water Company, as reported in the Company's Form 8-K dated December
7, 1994. During the Units' inactive period, the plant equipment
will be protected and maintained by the installation of a
dehumidification system that will permit the plant to return to
service in approximately six months.
Placing Steam Units 1 and 2 on inactive status will save the
Company approximately $3.5 million over the next five years. These
savings result primarily from a savings in operation and
maintenance expense. The Company will be eliminating 12 positions
at the plant and has also announced a voluntary early retirement
program that may avoid involuntary termination of some of the
employees whose positions at the Units have been eliminated.
Steam Unit No. 1 went into operation in the early 1950s and Unit
No. 2, in the mid 1950s. The Company still has at the Caribou
facility a diesel generation station of approximately 7 MW and a
hydro facility of approximately 1 MW and will continue to employ 11
employees.
MAINE PUBLIC SERVICE COMPANY
Registrant
July 13, 1995 Larry E. LaPlante
Larry E. LaPlante, Vice President
Finance and Treasurer
