- Current report filing (8-K)
March 03 2010 - 3:14PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934.
Date
of Report:
March 3,
2010
Maine
& Maritimes Corporation
(Exact
name of registrant as specified in its charter)
ME
|
333-103749
|
30-0155348
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification Number)
|
|
|
|
|
|
|
PO
Box 789
|
|
04769
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
207
760 2499
(Registrant's
telephone number, including area code)
Not
Applicable
(Former
Name or Former Address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01.
|
Entry
into a Material Definitive
Agreement.
|
MPUC
Approves Stranded Cost Revenue Requirements Effective January 1,
2010
This 8-K
filing is intended to serve as notice to our investors and customers that Maine
Public Service Company (MPS), a wholly owned subsidiary of Maine & Maritimes
Corporation, has received final approval from the Maine Public Utilities
Commission (MPUC) for the stranded cost revenue component of its electric
delivery rates for the “rate effective period” from January 1, 2010 through
December 31, 2011. Under Title 35-A of the Maine Revised Statutes Annotated,
Section 3208, the MPUC is required to periodically investigate and adjust the
stranded cost charges reflected in the rates of a transmission and distribution
utility. In accordance with this provision, on March 3, 2010, the MPUC issued an
order approving a stipulation under which MPS’s stranded cost rates remain the
same. Under this order, MPS is allowed to recover $11,086,000 in 2010
and $10,684,000 in 2011. The reduction in stranded cost revenue from the
previous revenue requirement of $11,942,000 established following the last MPS
stranded cost case in 2006 is primarily attributable to the recent reduction in
retail sales.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated:
March 3, 2010
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MAINE
& MARITIMES CORPORATION
|
|
By:
/s/ Brent M.
Boyles
|
|
Brent
M. Boyles
|
|
President and CEO
|
Maine & Maritimes Corp. (AMEX:MAM)
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