TAKE NOTICE that
Maritime Electric Company, Limited ("Maritime Electric"
or the "Company")
has filed an application with the Island Regulatory and Appeals Commission ("IRAC"
"Commission") seeking, among other things, to
implement rates, tolls and charges for electric service
for the period from March 1, 2019 to February 22, 2022
By Commission Order
UE16-04, dated February 29, 2016, the
Commission approved the rates, tolls and charges for
electric service for the period from March 1, 2016 to
February 28, 2019. Maritime Electric has now filed an
application with the Commission seeking the approval of
rates, tolls and charges for electric service for the
three year period from March 1, 2019 to February 28,
Maritime Electric is seeking to increase the rates, tolls and
charges for electric service commencing March 1, 2019.
The Company is proposing an annual increase of 1.1% in
each of the next three years for a typical customer in
the Residential, General Service, Industrial and other
rate classes. The overall annual impact for individual
customers in a given rate class will differ to the
extent that their consumption differs from the typical
customer in that class.
In addition to
the approval of rates, tolls and charges for electric
service, Maritime Electric is seeking approval of a
target Return on Average Common Equity of 9.35%,
together with the implementation of an Earnings Sharing
Mechanism. The Earnings Sharing Mechanism would result
in an allowed Return on Average Common Equity of +/- 50
basis points, resulting in a proposed range of 8.85% to
Electric has also proposed changes to its rate classes,
including the elimination of differential service
charges for urban and rural customers in the Residential
rate class, and the phasing out of the Residential
second block rate.
also incorporates certain findings and recommendations
made in the Point Lepreau Cost Allocation Classification
Study, Charlottetown Thermal Generating Station
Decommissioning Study, 2017 Depreciation Study, 2017
Cost Allocation Study, and the Annual Update to Interim
Weather Normalization Reserve.
HOW TO SEE THE APPLICATION
The information contained in this
Notice is an overview only and is not comprehensive.
A complete copy of the application
can be viewed by clicking
here. Any person wishing to obtain a
paper copy of the filing can do so by writing to Maritime Electric at the address below.
HOW TO COMMENT AND ASK QUESTIONS
The Commission invites
public input and participation with respect to the
further information with respect to the Application may
pose written questions to Maritime Electric by sending
their questions to the Company at the address below. All
questions and responses must be filed with the
persons may provide written comments on the Application
to the Commission at the address provided below.
Any person or
organization wishing to have formal standing to present
evidence under oath or to cross-examine witnesses may
apply to the Commission for intervener status in
accordance with the
Rules of Practice & Procedure for
Commission Hearings. In order to be considered,
applications for intervener status must be made in
writing and received by the Commission no later than
4:00 pm on January 18, 2019.
posed and comments received in relation to the
Application will be made public on the Commission
website at www.irac.pe.ca.
A public hearing
will be held with respect to the Application. A Notice
of Hearing will be published once hearing dates have
The Commission also invites interested persons to make
verbal submissions as part of the public hearing.
Individuals who would like to make a verbal submission
must register with the Commission at the address below.
FOR ADDITIONAL INFORMATION
with respect to the Application can be obtained by contacting Maritime Electric at
902-629-3756. Written communications should be forwarded to:
Jason Roberts, CPA, CA
Chief Financial Officer
Maritime Electric Company, Limited
P.O. Box 1328
Charlottetown, PE C1A 7N2
Cheryl Mosher, CPA, CA
Island Regulatory & Appeals Commission
P.O. Box 577
Queens County, Province of Prince Edward Island, this
19th day of December, 2018.