The Prince Edward Island Energy Corporation has received six responses to its Request for Expressions of Interest for natural gas development.
The process will now move to Stage One of a three stage process. The Energy Corporation board will review the evaluation criteria at it's meeting on May 5, 2000. Following that, the evaluation committee will review the six submissions. Once the evaluation is completed, a recommendation will be reported to the PEI Energy Corporation Board, and then to Cabinet. It is expected that process will take at least six weeks.
The evaluation of the six submissions will achieve one of the following results:
- Entering into Stage Two of the process with the developer who has clearly submitted the superior development plan and has scored the highest;
- Proceeding to a Request for Proposals in the event that there are several submissions that have received similar evaluations; or
- Not proceeding to Stage Two of the process.
Stage Two of the process would involve further evaluation of the feasibility of implementing the proponent's proposed project.
"The number of solid proposals we have received indicates we are on the right track for natural gas development in the province," said Wayne MacQuarrie, CEO of the PEI Energy Corporation. "We are very much looking forward to proceeding with the evaluation stage of this process."