Maine PUC keeps wind project contract negotiations alive

AUGUSTA, Maine (AP) - Maine utility regulators are moving forward with a plan to enter into a long-term contract with a proposed wind power project in Somerset County.

The Public Utilities Commission voted 2-1 on Wednesday to accept modified terms for an agreement to buy power from NextEra's (NYSE: NEE) proposed Highland Wind project. If the company agrees to the new terms, a contract will be drafted and sent back to the commission for final approval.

The PUC gave initial approval to that project and another one in December, but decided in February to reconsider the decisions due to changes in the energy market. SunEdison, which is behind the other project, later abandoned negotiations.

The commission also rejected a request from environmental groups to reconsider a decision that could greatly reduce energy efficiency funding.

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