IRAC approves Maritime Electric application for rate increases

The Island Regulatory and Appeals Commission has approved Maritime Electric’s application to increase electricity rates over the next three years. The first rate increase goes into effect May 1st of this year, and it will be about a 2.6 per cent increase.  Then, another 2.6 per cent increase will take effect March 1st, 2024.  Finally, there will then be a 2.7 per cent increase that takes effect March 1st, 2025.  IRAC, which has been concerned about Maritime Electric’s effort regarding tree-trimming along power lines, wants to be updated on progress regarding tree-trimming.