A Maine court has struck PUC approval of Emera's increased stake in Algonquin Power and Utilities Corp., due to the relationship it would entrench between a utility and generation owner, the Bangor Daily News reports

Emera owns utility Emera Maine (BHE, MPS).

Maine's restructuring law is unique in that it provides, "an investor-owned transmission and distribution utility may not own, have a financial interest in or otherwise control generation or generation-related assets," with such "financial interest" provision reaching into whether generation may be owned by utility parents/affiliates, and not just the utility itself.

The BDN reports that the court's opinion was specific to the JV, and broader questions regarding affiliation between utilities and generation remain unanswered

See the stories below for more:

Bangor Daily News

Press Herald