Analysts expect a 20%-30% drop in supply rates, but there’s still plenty of uncertainty with the Public Utilities Commission set to select bids next month for 2024 standard offer service.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Local & State, News, Politics
Opponents of public utility takeover far outspend supporters as Election Day nears
The owners of Maine’s largest power companies have spent more than $37 million to defeat Question 3, while the leading supporter of a public utility takeover has spent just over $1 million.
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Posted inBusiness, Nation & World, News, Uncategorized
AP sources: Auto workers and Stellantis reach tentative contract deal that follows model set by Ford
The deal, which still has to be ratified by members, leaves only General Motors without a contract with the union.
Posted inBusiness, Local & State, News
Gun stores in Maine see brisk business in wake of Lewiston shootings
‘It’s been a madhouse,’ an employee at a Lewiston store says of the increase in business. ‘People are scared,’ says a gun shop owner in Augusta.
Posted inBusiness, Nation & World, News
GM, Stellantis match 25% pay hike in latest offer to UAW
The pay increases match the same offer by Ford to end the six-week strike, according to people familiar with the discussions.
Posted inBusiness, Lewiston-Auburn, News
Lockdown in Lewiston and Androscoggin County creates backlog at Walmart distribution center
Dozens of trucks lined up outside Lewiston distribution center waiting to offload their cargo.
Posted inBusiness, Nation & World
U.S. consumers still spending briskly, even in the face of persistent inflation and high interest rates
An inflation gauge that is closely monitored by the Federal Reserve showed price increases remained elevated in September amid brisk consumer spending and strong economic growth.
Posted inBusiness, Nation & World, News
Cruise, GM’s robotaxi service, suspends all driverless operations nationwide
The announcement Friday arrived just days after California regulators revoked Cruise’s license, saying that its driverless cars posed a danger to public safety.
Posted inBusiness, Nation & World, News
The Biden administration is encouraging the conversion of empty office space to affordable housing
The new initiative, announced Friday morning, is a multipronged effort to address both the national shortage of affordable housing and the post-pandemic surplus of vacant office buildings.
Posted inBusiness, Nation & World
General Motors and Stellantis in talks with United Auto Workers to reach deals that mirror Ford’s
GM is likely to be the next company to settle because it has agreed to pull new electric vehicle battery factories into the UAW’s national contract, which essentially unionizes them.