These regulations set a minimum purchase price for electricity bought by a public utility from a renewable energy generator under an interconnection agreement.
c t RENEWABLE ENERGY ACT MINIMUM PURCHASE PRICE REGULATIONS PLEASE NOTE This document, prepared by the Legislative Counsel Office, is an office consolidation of this regulation, current to February 27, 2016. It is intended for information and reference purposes only. This document is not the official version of these regulations. The regulations and the amendments printed in the Royal Gazette should be consulted on the Prince Edward Island Government web site to determine the authoritative text of these regulations. For more information concerning the history of these regulations, please see the Table of Regulations on the Prince Edward Island Government web site (www.princeedwardisland.ca). If you find any errors or omissions in this consolidation, please contact: Legislative Counsel Office Tel: (902) 368-4292 Email: legislation@gov.pe.ca Renewable Energy Act Minimum Purchase Price Regulations Section 1 c RENEWABLE ENERGY ACT Chapter R-12.1 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: 1. Definitions (1) In these Regulations (a) “Act” means the Renewable Energy Act R.S.P.E.I. 1988, Cap. R-12.1; (b) “Consumer Price Index” or “CPI” means the All-Items Consumer Price Index for the province as reported annually by Statistics Canada; (c) “interconnection agreement” means an interconnection agreement made for the purchase of electric energy by a public utility from a renewable energy generator; (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 (2) These regulations apply (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. (EC764/05) 2. Minimum purchase price (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 c t Updated February 27, 2016 Page 3 Section 3 Renewable Energy Act Minimum Purchase Price Regulations (b) a period of 20 years. Exception (3) Revoked by EC91/16. (EC764/05; 91/16) 3. Adjustment, wind energy project 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 (EC764/05) Page 4 Updated February 27, 2016 t c