P.E.I.’s Minister of Environment, Energy and Climate Action says the government has not ruled out the possibility of striking a deal with Maritime Electric to foot the bill for post-tropical storm Fiona cleanup — even though the utility has applied to charge its customers more in order to cover it.
The proposed 2.9 per cent rate hike to cover what Maritime Electric paid to repair damage from Fiona is currently before the Island Regulatory and Appeals Commission, or IRAC. If approved, the additional payment amount would be in place for five years beginning this Friday.
“I will say we are concerned. There are three rate increases in front of IRAC this year,” Energy Minister Steven Myers told the legislature on Wednesday.
The commission has already approved a separate rate increase of 2.5 per cent that also begins this Friday, March 1. As well, there is an Energy Cost Adjustment Mechanism or ECAM increase resulting from longer-than-anticipated outages at New Brunswick’s Point Lepreau nuclear power station, from which the province buys energy.
