Maine regulators are launching an investigation into Versant Power’s management practices.
The Maine Public Utilities Commission announced the probe Tuesday, saying it stems from concerns raised during a recent audit of the utility’s operations.
That audit, launched on May 29, 2024, looked into Versant Power’s management structure, customer service, collection practices, operations and reliability.
Philip Bartlett, the commission’s chair, said that the audit raised numerous questions about “the judgment of Versant’s management.”
“Through this investigation we will review any other relevant evidence to determine whether there are any deficiencies and, if so, what action should be taken to address them. We are committed to holding utilities accountable for meeting their statutory obligations to their customers,” Bartlett said in a statement.
The investigation will look into Versant’s compliance with commission orders, performance metrics, and management and service.
Versant Power is Maine’s second largest electric utility and serves about 165,000 Mainers.
In a Tuesday statement, Versant Power said it agrees with many of the audit’s findings, noting it has been working to make improvements.
“We take seriously our obligations and responsibilities as a regulated utility,” Versant Power said in the statement.
But the utility took issue with the affordability of the recommendations, saying they call for tens of millions of dollars in new spending to achieve $1.5 million to $4 million in annual customer savings.
