Beginning next March, Island electrical rates will drop by an average of 14 per cent - and then will remain frozen until the spring of 2013.
The rate reduction and freeze is one of the major highlights included in the 2010 Speech from the Throne.
“The reduction and freeze will result in millions of dollars in savings for Islanders,” Premier Robert Ghiz said.
The new PEI Energy Accord has three main elements:
∙ Rate reduction, beginning in the spring of 2011
∙ Price stability
∙ Establishing Prince Edward Island as the world leader in the integration of wind power
An early measure of this Accord will be the introduction of the Electrical Rate Reduction Act. Through legislative means, this Act will take specific aim at the Accord's first goal - immediate rate reduction.
As a result of this initiative, it is estimated that Island ratepayers will pay approximately 25 million dollars less in electricity bills next year as compared to this year.
Other highlights of the 2010 Speech from the Throne include:
∙ The Primary Health Care Centre network will be expanded with new locations in Kings and Queens Counties.
∙ A new Palliative Care Centre will be established.
∙ An Early Learning and Child Care Act will be introduced to formalize government's plan to provide enhanced programs to Island children.
∙ An additional 14 Early Years Centres will be established - to complement the existing network of 36 centres currently operating.
∙ Beginning April 1, 2011, the "clawback" of National Child Benefits provided to the children of families receiving social assistance will end.
“The 2010 Speech from the Throne confirms the direction we took in 2007,” the Premier said. “As a government, we believe in combining socially progressive policy with sound economic plans. The measures outlined for the next year continue that plan.”
The 2010 Speech from the Throne can be found online at www.gov.pe.ca.