Costs stall PEI energy projects

subscribe

Prince Edward Island has officially put on hold renewable-energy projects promising 130 megawatts because all the proposals are too costly.

Six companies made submissions in February to build the projects, mostly for wind development. They were assessed by Maritime Electric, the province's main electricity supplier.

Energy Minister Richard Brown announced in the legislature they've all been rejected because the electricity costs were too high.

"We have a wind farm on Prince Edward Island. We know what [cost] we can produce wind for," said Brown.

"Maritime Electric analyzed the bids and, with the current prices that were in them and with the transmission costs and the additional costs that we would have to put in place in terms of infrastructure, the pricing wasn't good enough for Islanders."

Energy critic Mike Currie doesn't understand why a private company should have the power to evaluate energy projects for the province.

"I think that Maritime Electric just doesn't want to do any more wind projects on Prince Edward Island," said Currie. "Why the minister has made them part of the evaluation process is beyond me."

The plan was to sell 30 megawatts on PEI and export the rest.

It's possible that could still happen. The companies have been given 30 days to fine-tune their proposals and resubmit them.

Related News

hydro one building

Hydro One shares jump 5.7 per cent after U.S. regulators reject $6.7B takeover

TORONTO - Opposition politicians may not like it but investors are applauding the rejection of Hydro One Ltd.'s $6.7-billion takeover of U.S.-based utility Avista Corp.

Shares in the power company controlled by the Ontario government closed at $21.53, up $1.16 or 5.7 per cent, on the Toronto Stock Exchange on Thursday.

On Wednesday, Washington State regulators said they would not allow Ontario's largest utility to buy Avista for fear the provincial government, which owns 47 per cent of Hydro One's shares, might meddle in Avista's operations.

Financial analysts had predicted investors would welcome the news because the deal, announced in July 2017, would…

READ MORE
everything-electric-returns-to-vancouver

"Everything Electric" Returns to Vancouver

READ MORE

Abu Dhabi

Abu Dhabi seeks investors to build hydrogen-export facilities

READ MORE

portland general electric

Portland General Electric Program Will Transform Hundreds of Homes Into a Virtual Power Plant

READ MORE

amazon renewable energy

Amazon launches new clean energy projects in US, UK

READ MORE