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W W W. M A I N E B I Z . B I Z 19 N OV E M B E R 3 0 , 2 0 1 5 incentivizing new markets for local fi ber resources. is glass is half full; it's not half empty." Challenges and opportunities Other speakers at the summit reiterated Doran's "glass half full" theme, identifying problems but also highlighting or suggesting possible solutions. Patrick Woodcock, director of the Governor's Energy Offi ce, says the low price of oil is helping to reduce the cost of electricity in the short-term, with the Maine Public Utilities Commission approv- ing lower standard off er prices for both Central Maine Power Co. and Emera Maine residential and medium business customers for 2016. Ultimately, Woodcock says, the key to achieving long-term reductions in the cost of both electricity and heating is increasing natural gas capacity by enabling more gas to fl ow from the Marcellus Shale deposits in Pennsylvania and New York into New England and ultimately Maine. " ere is no daylight between the New England governors" and Maine Gov. Paul LePage on the need to act quickly on that front, he says. " ey have seen what high energy costs do their economies. Property taxes are another high benchmark cost for Maine paper mills, says Jon Block, a tax attorney at Pierce Atwood and moderator of the summit's tax policy discussion. One paper company, he says, collectively pays $10.6 million in annual property taxes for six operating mills outside Maine and $7.4 million for its one mill in Maine. at kind of disparity, he says, inevitably puts a red fl ag on the P&L statements of Maine mills owned by companies with mills paying lower taxes elsewhere. Over The Years, Banking Has Changed Tremendously. Our Commitment To Maine's Financial Institutions Has Not. 1-800-564-0111 | eatonpeabody.com Augusta | Bangor | Brunswick | Ellsworth | Portland We represent all types of cooperative, mutual and stock financial institutions and their a‹liates and subsidiaries. We provide corporate, operational, regulatory and governance advice and assistance, including mergers and acquisitions, complex compliance matters and sophisticated commercial lending. C O N T I N U E D O N F O L L OW I N G PA G E » Benchmarking Maine's paper industry S O U R C E : Innovative Natural Resource Solutions LLC, "Benchmarking Maine's Forest Industry" Industrial electric prices, 2013 ($/MWh) Industrial natural gas price, 2013 ($/MMCF) All state taxes as a percent of GDP, 2013 $0 $20 $40 $60 $80 $100 ME WA NC GA LA MS MI WI MN $0 $2 $4 $6 $8 $10 $12 ME WA NC GA LA MS MI WI MN 0% 2% 4% 6% 8% 10% ME WA NC GA LA MS MI WI MN $69.80 $74.00 $77.20 $63.40 $59.20 $62.70 $64.50 $42.30 $83.40 $4.94 $6.02 $6.97 $5.82 $3.86 $5.38 $6.87 $8.37 $10.32 7.11% 5.80% 5.77% 6.77% 3.74% 3.93% 5.09% 4.61% 7.11%

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