Development and Technology Minister Mike Currie announced today that the Province is ready to proceed to the next stage in determining the feasibility of bringing natural gas to Prince Edward Island.
Stage One of the process involved the issuing of an Expression of Interest call in February of this year. Six submissions were received. The Province has completed the evaluation of these submissions and has selected the highest scoring submission for further evaluation.
Westcoast Energy Incorporated, a major leader in the North American energy industry, submitted a plan which involves the generation of gas fired electricity on PEI and a gas distribution proposal.
The electrical generation plan involves a partnership between Westcoast Power Inc., a wholly owned subsidiary of Westcoast Energy and Maritime Electric Company Limited.
Details of the plan will not be made public until the Stage Two process is complete.
Stage Two involves undertaking detailed cost evaluations relating to the proposal and an assessment of the opportunities for more wide-spread gas distribution across the province. Stage Two will also provide an opportunity for the Province to examine ways to maximize gas marketing and servicing opportunities for local energy suppliers.
"I am pleased to be able to move to the next stage in the process and encouraged by the level of interest so far," said Minister Currie. "Natural gas will provide this province with a number of economic benefits as well as significant benefit to the environment."
The Stage Two process should take six to nine months to complete.