Maritime Electric Company, Limited ("Maritime Electric"
or the "Company")
has filed a request with the
Island Regulatory and Appeals Commission ("IRAC" or the
"Commission") seeking approval of new electric rates.
The request, if approved, will result in an increase in
the electric rates currently charged by Maritime
Electric.
DETAILS
In November
2018, Maritime Electric filed an application with the
Commission seeking an annual increase in electric rates
in each of 2019, 2020 and 2021. Following the exchange
of information, consultation with expert witnesses, and
a public hearing, the Commission denied the request for
a rate increase (Order UE19-08). As a result, the rates
for electric service charged by Maritime Electric have
not increased since March 1, 2018.
In February
2020, Maritime Electric filed updated financial
information and forecasts with the Commission, based on
the Company’s financial results to December 31, 2019.
The Commission
has engaged an independent consultant, Grant Thornton,
to assist in the review of Maritime Electric’s updated
financial filing and the proposed rate increase. The
Commission has also issued interrogatories to Maritime
Electric seeking additional information.
A copy of all
documentation filed in relation to this matter is
available on the Commission website at www.irac.pe.ca.
This includes the updated financial filing and proposed
electric rates filed by Maritime Electric, the report
prepared by Grant Thornton, and information provided by
Maritime Electric to Grant Thornton and the Commission.
HOW TO COMMENT AND ASK QUESTIONS
The Commission
invites public input and participation with respect to
the proposed change in electric rates.
Anyone seeking
further information with respect to the change in
electric rates may pose written questions to Maritime
Electric by sending their questions to the Company at
the address below. Questions must be submitted to
Maritime Electric on or before Friday, November 20,
2020. Maritime Electric must respond to all written
questions by Wednesday, November 25, 2020. All questions
and responses must be filed with the Commission.
Anyone who
wishes to comment on the proposed change in electric
rates may also provide written comments to the
Commission at the address provided below. Comments must
be received by Wednesday, December 1, 2020.
All questions
posed and comments received by the Commission will be
made public on the Commission website at
www.irac.pe.ca.
A public hearing
will only be held if the Commission determines a hearing
is necessary. If there is a public hearing, a Notice of
Hearing will be published. Otherwise, the Commission
will issue its decision in the form of a written Order.
If an Order is issued, it will be posted on the
Commission website.
FOR ADDITIONAL INFORMATION
Additional
information with respect to the proposed change in
electric rates can be obtained by contacting Maritime
Electric at 902-629-3756. Written communications should
be directed to:
|
Michelle Francis, CPA, CA
Vice-President, Finance
&
Chief Financial Officer
Maritime Electric Company, Limited
P.O. Box 1328
Charlottetown, PE C1A 7N2
|
Cheryl Mosher
Senior Financial Advisor
Island Regulatory & Appeals Commission
P.O. Box 577
Charlottetown, PE C1A 7L1
email:
info@irac.pe.ca
|
DATED
at Charlottetown,
Queens County, Province of Prince Edward Island, this 6th day of
November, 2020.
Posted: 2020/11/09