Renewable energy requirements for P.E.I. electrical utilities removed
Renewable Energy Act amendment means province can bump up sales of renewable energy credits
Electrical utilities on P.E.I. are no longer required to purchase a minimum of 15 per cent of their needs from renewable sources.
An amendment has been made to the Renewable Energy Act removing the minimum requirement.
The act was introduced in 2008 to encourage the development of renewable energy, "and that goal has now been achieved," said Transportation, Infrastructure and Energy Minister Paula Biggar.
"Prince Edward Island now generates 25 per cent of its electricity needs from wind energy, the highest percentage of any jurisdiction in North America," Biggar said in a written statement Thursday.
With the legislative requirement removed, the province said it will now be able to increase the sale of renewable energy credits, which businesses buy to mitigate the impact of their greenhouse gas emissions. The province says that will help it generate more money.
The P.E.I. Energy Corporation has entered into a long-term power purchase agreement with Maritime Electric for the sale of wind energy.
The province said it remains committed to increasing the supply of energy from renewable sources through its new energy strategy.
"The provincial government has made significant progress in the development of wind energy, and will continue to evaluate other sources including biomass, solar and tidal power," said Biggar.
Development of the strategy is currently underway and is expected to be released this year.