Central Maine Power time line

1899

For a century, Central Maine Power has been a moving force in Maine life — especially in politics and energy.

At the turn of the 19th century, most electric utilities were owned and operated locally. But in 1899, a young engineer just out of college, Walter S. Wyman, acquired a 30-horsepower generator under an old mill on the Messalonskee River.

Soon Wyman and a partner had incorporated the Oakland Electric Light Co. It started expanding to nearby towns, including Waterville, in 1905. By 1910, the company was called Central Maine Power Co. and had about 4,500 customers.

Other significant dates in CMP’s history:

1916. First CMP appliance store opens in Augusta.

1935. CMP consolidates with Androscoggin Electric, is no longer a holding company under federal law.

1942. Death of Walter S. Wyman. Son Walter F. Wyman succeeds him.

1946. CMP stock traded publicly.

1949. Company has more than 200,000 electric customers.

1958. CMP discontinues appliance sales.

1962. William H. Dunham becomes CMP president on death of Walter F. Wyman.

1966. CMP takes lead in organizing Maine Yankee Atomic Power Co. Construction of Maine Yankee starts in 1968.

1972. CMP takes 2.55 percent stake in two nuclear units planned for Seabrook, N.H. CMP invests $332 million in Seabrook over 13 years.

1973. Oil embargo prompts energy crisis.

1976. Nuclear power makes up 46 percent of CMP’s power.

1978. Sweeping change in federal energy law requires utilities like CMP to buy some power from special energy plants, some of which use alternative energy sources such as biomass.

1985. Maine PUC allows CMP to recover $148 million from its investment in failed Seabrook nuclear plant, but requires $85 million writeoff of shareholder equity.

1989. 476,202 electric customers buy 9.1 billion kilowatt-hours of power.

1992. National Energy Policy Act starts interest in restructing of electric power system

1994. David Flanagan becomes CMP president. Pledges cost control.

1995. Hairline cracking in hundreds of Maine Yankee steam generator tubes raise questions about repair costs. The plant eventually is shut down.

1998. Massive ice storm takes 275,000 CMP customers off line, costing at least $51 million.

1999. Formal sale of CMP assets to FPL Group for $858.3 million. Sale to Energy East Corp. announced.

SOURCES: CMP, “Maine: The Pine Tree State from Prehistory to the Present”