- Updated to: February 29, 2016 -

(Includes Amendments Asssented to on February 16, 2016)

CHAPTER R-12.1

RENEWABLE ENERGY ACT

 MINIMUM PURCHASE PRICE REGULATIONS

Pursuant to section 18 of the Renewable Energy Act R.S.P.E.I. 1988, Cap. R-12.1, Council made the following regulations:

Definitions

Act

(a) "Act" means the Renewable Energy Act R.S.P.E.I. 1988, Cap. R-12.1;

Consumer Price Index or CPI

(b) "Consumer Price Index" or "CPI" means the All-Items Consumer Price Index for the province as reported annually by Statistics Canada;

interconnection agreement

(c) "interconnection agreement" means an interconnection agreement made for the purchase of electric energy by a public utility from a renewable energy generator;

minimum purchase price

(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);

(e) "operating cost" means $0.02 per kilowatt hour.

 Application

(a) to a renewable energy generator referred to in section 8 of the Act; and

(b) to an interconnection agreement made after the date these regulations come into force.

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.

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:

(a) the term of the interconnection agreement; or

(b) a period of 20 years.

Exception

(3) Revoked by EC91/16.

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:

A + (B X C)

where

A = mpp

B = CPI

C = operating cost

4. These regulations come into force on December 31, 2005.

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