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- Updated to: February 29,
2016 -
(Includes
Amendments Asssented to on February 16,
2016)
CHAPTER
R-12.1
RENEWABLE
ENERGY ACT
MINIMUM
PURCHASE PRICE REGULATIONS
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Pursuant to section 18 of the
Renewable Energy Act
R.S.P.E.I. 1988, Cap. R-12.1, Council made the following regulations: |
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Definitions
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1.
In these
regulations |
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Act |
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(a) "Act" means the Renewable Energy Act R.S.P.E.I.
1988, Cap. R-12.1; |
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Consumer Price Index or CPI |
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(b) "Consumer Price Index" or "CPI" means the All-Items
Consumer Price Index for the province as reported annually by Statistics
Canada; |
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interconnection agreement |
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(c) "interconnection agreement" means an interconnection
agreement made for the purchase of electric energy by a public utility from
a renewable energy generator; |
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minimum purchase price |
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(d) "minimum purchase price" or "mpp" means the minimum
purchase price at which a public utility is required to purchase electric
energy from a renewable energy generator as established under subsection
2(1); |
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operating cost |
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(e) "operating cost" means $0.02 per kilowatt hour. |
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Application |
(2) These regulations apply |
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(a) to a renewable energy generator referred to in section 8
of the Act; and |
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(b) to an interconnection agreement made after the date
these regulations come into force. |
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Minimum purchase price |
2. (1) Subject to section 3, the minimum purchase price
established for the purchase of electric energy by a public utility from a
renewable energy generator under an interconnection agreement is $0.0775 per
kilowatt-hour. |
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Application of tariff |
(2) The minimum purchase price established under subsection
(1) that is in effect when an interconnection agreement is entered into
continues to apply in respect of the purchase of electricity under the
interconnection agreement, despite any amendment of subsection (1), during
the greater of the following periods: |
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(a) the term of the interconnection agreement; or |
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(b) a period of 20 years. |
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Exception |
(3) Revoked by EC91/16. |
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Adjustment, wind energy project |
3. The minimum purchase price established under
subsection (1) shall be adjusted on April 1, 2008 and April 1 thereafter by
using the following formula: |
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A + (B X C) |
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where |
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A = mpp |
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B = CPI |
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C = operating cost |
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Commencement |
4. These regulations come into force on December 31,
2005. |
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