Government of Canada Announces $19 Million to Support Electricity Modernization in P.E.I.

SUMMERSIDE, PEI, Sept. 29, 2023 /CNW/ - Communities across Canada are prioritizing cleaner, more reliable energy sources in the global race to fight climate change and seize the economic opportunities of a low-carbon future. The Government of Canada is working to deploy smart renewable energy projects and enable grid modernization technologies to support Canada's clean energy transition, keep our air cleaner and build resilient, healthy communities for everyone to call home, all while creating good-paying, sustainable jobs.

Today, Bobby Morrissey, Member of Parliament for Egmont, P.E.I., on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced up to $19 million for Maritime Electric Company's Sustainable Electrification initiative. The project will reduce greenhouse gas (GHG) emissions and provide for the efficient use of renewable energy sources located on Prince Edward Island.

The Maritime Electric Company's $47.6-million project will help create a more efficient and resilient electricity grid system for P.E.I. by replacing current meters with an advanced metering infrastructure system. This will allow potential outages on the Island to be detected faster so that power is restored more efficiently, and it will produce better usage data to make electricity bills more predictable.

The project is expected to create over 100 new jobs, reduce greenhouse gas emissions by 80 tonnes annually and contribute to the Government of Canada's goal of developing a net-zero electricity system by 2035.

Federal funding for this project is provided by Canada's through the Smart Renewables and Electrification Pathways Program (SREPs). Budget 2023 committed nearly $3 billion in additional funds to this program, along with an estimated $26 billion for the Clean Electricity Investment Tax Credit. This program is actively supporting Canada's development of a net-zero economy by 2050 and Canada's commitment to meeting Clean Electricity Regulations objectives.  

"The global race to net zero is one of the greatest economic opportunities of this generation. Congratulations to Maritime Electric Company on the development of their Sustainable Electrification initiative to ensure Islanders across the province of P.E.I. have access to clean, reliable and affordable power." 

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources 

"The federal government is increasing the supply of clean, reliable and affordable power right across Canada — including on P.E.I. Today's investment in Maritime Electric ensures that Canada, alongside the rest of the world, can achieve a net-zero future while creating good jobs and affordable electricity." 

MP Bobby Morrissey
Member of Parliament for Egmont, Prince Edward Island

"The Government of Canada is supporting Islanders by advancing metering infrastructure to create a clean, reliable and affordable electricity grid in P.E.I. Today's investment supports the creation of over 100 jobs and supports the reduction of greenhouse gas emissions across the province." 

Sean Casey
Member of Parliament for Charlottetown, Prince Edward Island

"The Advanced Metering for Sustainable Electrification Project is an important milestone for Maritime Electric. The project involves replacing and upgrading the company's current metering system and Customer Information System to allow for a sustainable transition to electrification across Prince Edward Island. We are proud to partner with the Government of Canada on this important project for our company."

Jason Roberts
Maritime Electric President & CEO

• Budget 2023 included $3 billion for Natural Resources Canada over 13 years, including to recapitalize the Smart Renewables and Electrification Pathways Program to support critical regional priorities and Indigenous-led projects. It also includes $40 billion of historic investments in the grid. The Smart Renewables and Electrification Pathways Program (SREPs) provides up to $1.56 billion over eight years for smart renewable energy and electrical grid modernization projects.
• SREPs will significantly reduce greenhouse gas emissions by encouraging the replacement of fossil-fuel generated electricity with renewables that can provide essential grid services while supporting Canada's equitable transition to an electrified economy.
• AMI contributes to smart grids, which modernize the safe and secure delivery of electricity, provide foundations for new market structures and a higher quality of service for customers. Smart grids are a key enabler for GHG mitigation as they increase the hosting capacity of renewable generation, leverage more from the electricity infrastructure we have and increase resiliency.

• Maritime Electric Company
• Smart Renewables and Electrification Pathways Program
• Powering Canada Forward: Building a Clean, Affordable, and Reliable Electricity System for Every Region in Canada
• 2030 Emissions Reduction Plan: Clean Air, Strong Economy
• Sustainable Jobs Plan
• Budget 2023: Investing in Clean Electricity
• Accord Acts Amendment

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SOURCE Natural Resources Canada