
Docket UE20721
IN THE MATTER
of an
application by Maritime Electric Company, Limited for approval of 2014 Capital
Budget.
Notice of Application
TAKE NOTICE
that Maritime
Electric Company, Limited ("Maritime Electric" or the "Company") has
filed the 2014 capital budget for the approval of the Island Regulatory and Appeals Commission (the
"Commission").
BACKGROUND
Maritime Electric is required, under Section 17 (1) of the
Electric Power Act, to submit to the Commission for its approval
an annual capital budget of proposed improvements or additions to
the property of the public utility.
DETAILS
The Company is seeking
approval for capital expenditures of $27,837,000 which it states are
necessary to ensure the provision of cost effective, safe and
reliable service to customers. The planned capital expenditures are
broken down as follows:
Corporate Area |
Amount |
Generation |
2,188,000 |
Distribution |
17,271,000 |
Transmission |
7,244,000 |
Corporate |
870,000 |
Capitalized General
Expense |
439,000 |
Interest During
Construction |
100,000 |
Less: Customer
Contributions |
(275,000) |
Net Capital
Expenditures |
$27,837,000 |
The planned capital expenditures
do not have any immediate impact on electricity rates.
Currently, electricity rates have been established by legislation,
Electric Power (Energy Accord
Continuation) Amendment Act, which received Royal
Assent December 7, 2012. These planned capital expenditures
and their impact on annual depreciation charges, which does impact
rates, have been incorporated into legislated rates announced as
part of the
Electric Power (Energy Accord
Continuation) Amendment Act.
HOW TO SEE THE APPLICATION
A complete copy of
the application, including a detailed breakdown of planned expenditures, can be obtained by clicking
here. Any person wishing to
obtain a hard copy of the filing can do so by writing to Maritime Electric
at the address below.
HOW TO COMMENT AND ASK QUESTIONS
Any person wishing to
comment on the filing can do so by writing to the Commission at the
address below. In order to be considered, comments must be received
by Friday, September 27, 2013. Persons wishing to pose questions to
Maritime Electric on the filing may do so by sending their
questions, in writing, to the Company on or before Friday, September
6, 2013. Questions posed to Maritime Electric must be answered by
the Company, in writing, on or before Friday, September 20, 2013.
Copies of both written questions and written answers must be copied
to, or filed with, the Commission not later than Friday, September
27, 2013 in order to be considered.
FOR ADDITIONAL INFORMATION
Additional
information on the application can be obtained by contacting Maritime
Electric at 629-3756. Written communications should be forwarded to:
S.D.
Loggie, CA Vice-President, Finance &
Chief Financial Officer Maritime Electric Company, Limited P.O. Box 1328 Charlottetown, PE C1A 7N2 |
J.M.
Lanigan, CA Regulatory Services
Island Regulatory & Appeals Commission
P.O. Box 577 Charlottetown, PE C1A 7L1
email: info@irac.pe.ca |
DATED
at Charlottetown, this 2nd day of July, 2013.
Posted: 2013/07/04

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