PEI delays rate hike
Maritime Electric was planning a new scheme of power rates that will eliminate the two-tier residential rate system, which gives lower rates to customers who consume a lot of electricity.
That price change was scheduled for April 1 and it would have dramatically increased electricity costs for hundreds of Island farmers.
Both Energy Minister Richard Brown and the Prince Edward Island Federation of Agriculture spoke out against the move.
The agriculture federation said the change would have pushed their electrical costs up 25 to 30 per cent.
Maritime Electric asked the regulatory board to delay the policy change, so there could be more public consultation.
The policy change was approved by the board back in 2008.
At that time, IRAC approved a Maritime Electric request to eliminate the two-tiered pricing system to customers who used large amounts of electricity. It was to be phased out over three years, and completely eliminated this April.
Related News
Octopus Energy Makes Inroads into US Renewables
TEXAS - Octopus Energy, a UK-based renewable energy provider known for its innovative approach to clean energy solutions, has announced its first investment in the US renewable energy market. This strategic move marks a significant milestone in Octopus Energy's expansion into international markets and underscores its commitment to accelerating the transition towards sustainable energy practices globally.
Investment Details
Octopus Energy has partnered with Copenhagen Infrastructure Partners (CIP) to acquire a stake in a portfolio of solar and battery storage projects located across the United States. This investment reflects Octopus Energy's strategy to diversify its renewable energy portfolio and capitalize on…
