Our Business Versant Power by the Numbers Service Territory 10,400 sq. miles Customer Accounts 164,000 Employees 406 Transmission Lines 1,265 miles Primary Distribution Lines 6,090 miles Versant Power is a regulated electric transmission and distribution utility serving 164,000 customer accounts in northern and eastern Maine. The company, formerly Emera Maine, initially was formed when Bangor Hydro Electric Company and Maine Public Service merged in January 2014. We are owned by ENMAX Corp., a full-service energy company based in Calgary, Alberta, which has committed to major investment in Maine to guarantee the safe, reliable delivery of electricity as well as reduced rates for Versant Power customers. Versant Power is responsible for the electricity grid — a system of poles, wires, substations, meters and other equipment that makes safe and reliable delivery of electricity possible. Our role includes planning for the needs of the system; restoring power when Mother Nature creates havoc with overhead lines; evaluating new technologies that can enable greater reliability, resiliency, and customer choice; and timing investments so that benefits for our customers exceed costs. Our role also includes implementation of state policies and programs through our unique position as the regulated business in an otherwise competitive market. This includes entering into contracts with grid-scale and community-scale renewable generators when required and selling that power again at wholesale, and administering net energy billing to incent small-scale renewables. The costs of these programs are recovered through rates. Customers have a choice about who supplies the electricity that Versant Power delivers. Customers who do not choose a competitive electricity provider receive Standard Offer service, a default service put out to bid by the Maine Public Utilities Commission. As a regulated company, Versant Power has both an obligation and privilege to serve customers in our service territory. The prices for our products and services are set in public proceedings with stakeholder input and regulatory approval. Unlike other types of private business, there are limits to what we can earn on our investments. Interstate transmission is regulated by the Federal Energy Regulatory Commission (FERC), and local transmission and distribution are regulated by the Maine Public Utilities Commission (MPUC).