CMP News

Central Maine Power Company, 83 Edison Drive, Augusta, ME 04336 (207) 622-NEWS 

Corporate Communications - corpcomm@cmpco.com 

Release: Immediate - An Energy East Company

PRESS STATEMENT

CMP discussions with IBEW 1837 continue

AUGUSTA, Maine, September 22, 2009 — CMP is committed to treating our employees fairly and providing safe, reliable, affordable electric service to our customers. We focus on every cost, because we know our customers do, too. Our challenge is to balance what we can offer employees with what customers can afford.

CMP has a great workforce of tremendously skilled and knowledgeable people. Our lineworkers work long hours in tough conditions for customers, and our customers want them to be paid well for it. We agree. It’s our intent to continue providing job security, good wages, and a generous health and retirement benefits in a new contract.

We also recognize that these are extraordinary times for our customers. Nearly 22,000 Maine jobs disappeared in the past year, and state unemployment has reached 8.6 percent. Businesses are closing; employees are being furloughed or laid off. Maine is facing a long-term adjustment in our economy that affects everyone.

In August, CMP proposed an amended offer to the IBEW leadership for consideration by their members:

• A five-year agreement on wages and benefits.
• Guaranteed annual wage increases of 2.5 percent to 3 percent.
• Company-paid medical benefits of 80% for insurance for employees and their families.
• A pension plan and 401(k) plan with company match for current employees.
• Expanded options for continued medical insurance benefits for current employees when they retire in the company’s Post-Retirement Medical Plan or through a contribution to an individual Retiree Reimbursement Account for private health care premiums or qualifying health care expenses.
• An enhanced 401(k) with a company match for new employees in place of defined-benefit pension.

CMP management strongly believes our offer provides the right balance between fair compensation for our employees and the needs of our customers.

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About CMP: Central Maine Power, a subsidiary of Energy East Corporation, operates more than 25,000 miles of power lines and other facilities that deliver electricity to 80 percent of Maine’s population. Web site: www.cmpco.com.
About Energy East: Energy East Corporation is a respected, super-regional energy services and delivery company serving about 3 million customers throughout upstate New York and New England. By providing outstanding customer service and meeting customers’ energy requirements in an environmentally responsible manner, Energy East will continue to be a valuable asset to the communities we serve.

— CMP —