Honors College


Jacob DayFollow

Document Type

Honors Thesis

Publication Date



This work presents the current status of Maine’s investor-owned electric utilities. In utilizing current financial data, interviewing with individuals from Bangor Hydro Electric, and through research conducted, it was concluded that it should be in society’s economic best interest to allow privately-owned electric utilities to issue tax-exempt securities in specific scenarios.

In the long-term, this assessment may be useful in the determination of the most efficient methods for public utility capital taxation. Infrastructure development is critical to the success and sustainability of a developed nation. Through sensitivity and scenario analysis conducted in MS Excel, I concluded that the issuance of tax-exempt bonds by investor-owned utilities will be ideal for those that are poorly structured and overleveraged on a case-by-case basis.