Premier Pat Binns today expressed his pleasure with the announcement by West Coast Power and Maritime Electric to proceed with development of a 200 MW electrical generating plant on Prince Edward Island.
"We appreciate the efforts made by both parties in identifying an electrical generation project for Prince Edward Island," the Premier stated. "Today's announcement should enhance the interest in natural gas exploration on PEI, and will enable government to begin serious discussions to secure a natural gas pipeline to the province."
Mike Currie, Minister of Development and Technology, and Minister Responsible for the PEI Energy Corporation, said the announcement was a culmination of many months of study by West Coast Power and Maritime Electric to identify a feasible power project for the province. He commended both parties for their efforts and said Islanders will see the long-term benefits.
"An on-Island generating plant of this size will help address several economic development and energy policy objectives, and will provide security of supply for Islanders," said Minister Currie. "Access to competitively priced natural gas will also create a climate that encourages economic development, as well as provide competitive electricity rates for Islanders."
Wayne MacQuarrie, CEO of the PEI Energy Corporation, said the announcement will allow the corporation to focus on determining the level of interest in accessing natural gas among the province's larger industrial users and further investigate the feasibility of developing natural gas distribution systems on the Island.
"Without first establishing a large natural gas anchor to justify the construction of a lateral for PEI, it was premature to discuss natural gas access with our larger users or to spend a considerable amount of time and effort on determining the feasibility of gas distribution in the province," said Mr. MacQuarrie.
Premier Binns noted the Province will continue to work with West Coast Power and Maritime Electric toward maximizing the benefits of natural gas for Islanders.