A settlement agreement has been filed with IRAC between Maritime Electric and the PEI Energy Corporation regarding the general rate application for 2023.
Jason Roberts, President and CEO says if IRAC approves it will facilitate stable rent increases for customers over a three year period from 2023 to 2025.
If approved, a residential customer using 650 kilowatt hours a month would see a 2.6% increase in electricity costs per month for this year and 2024 and 2.7% for 2025. That is a drop from the 3% that was requested earlier.
That would begin on May 1st this year.
