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: December, 1998
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 December, 1998
Item 5(a) Other Material Events - Agreement Reached on Transmission
Concerns.
Reference is made to the Company's Form 10-K for December 31,
1997 and Form 10-Q for the quarter ended September 30, 1998,
where the Company's efforts to divest of its generating assets
in accordance with Maine's restructuring legislation are
discussed, including concerns by the Maine Public Utilities
Commission (MPUC) regarding the development of a retail market
in Northern Maine. One particular concern was related to the
transmission tariffs charged by New Brunswick Power on power
delivered to Northern Maine.
Paul R. Cariani, President and CEO of Maine Public Service
Company (MPS), announced today that an agreement in principle
was reached pursuant to a two-day negotiating session in
Augusta on December 16 and 17, 1998. This agreement resolves
all transmission issues in New Brunswick and will allow
competitively-priced electricity to flow from New England,
through New Brunswick into Northern Maine. Parties to the
agreement, beside Maine Public Service Company, are the Office
of the Public Advocate, Eastern Maine Electric Co-Operative,
Houlton Water Company, Van Buren Light and Power District and
NB Power.
Pleased with the preliminary settlement, Cariani said the
final agreement is expected in January and requires approval
of the MPUC.
MAINE PUBLIC SERVICE COMPANY
Registrant
Dated: December 18, 1998 /s/ Larry E. LaPlante
Larry E. LaPlante, Vice President,
Finance, Administration & Treasurer
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