Maritime Electric applies to IRAC for purchase of equipment to generate more power on-island

Maritime Electric is looking to IRAC for approval to purchase equipment at a price tag of $427-million — equipment it says it needs to generate more power locally.  With the growing population and electrification, and the uncertainty that comes with purchasing power from other provinces, Maritime Electric wants to generate more power on-island.  To do that, it wants to buy a combustion turbine, a battery for energy storage, and internal combustion engines.  Last year, the company experienced a new system peak load of 359 megawatts, and it believes buying this equipment for local generation will be more the more cost-effective approach.  The cost would be passed on to customers, with a phased-in approach.