The federal government’s decision regarding its Climate Change Plan will not impact electricity prices in P.E.I.
Maritime Electric has signed a five-year agreement with N.B. Power that will ensure P.E.I.'s electricity prices are not affected by the federal government imposing a backstop on New Brunswick.
This agreement is one of a number of factors that determine electricity rates. Current P.E.I. electricity rates will be in effect until the end of February 2019. New rates effective March 1, 2019 will be determined via a Maritime Electric rate application to the Island Regulatory and Appeals Commission (IRAC). Any change to P.E.I.’s electricity rates at that time are not related to the federal climate plan’s impact on New Brunswick energy costs.
It is unfortunate that the leader of the Green Party has attempted to convince Islanders that their electricity rates will be increasing, when in fact, we are actively and successfully reducing energy costs in P.E.I.
Islanders have saved $10 million with the 10 per cent rebate on electricity.
Over 2,100 Islanders have participated in the rebate program on heat pumps.
Home heating fuels on Prince Edward Island will be exempt from any price on carbon, saving Islanders $38.7 million directly.
We will offset the impact of the price on gasoline and diesel – so that it is only one cent in 2019 and another cent in 2020. We will return every single cent collected to Islanders.
Our government stands with Islanders in fighting climate change while protecting their pocketbooks.
Transportation, Infrastructure and Energy