Message to our Customers: Energy Cost Adjustment Mechanism (ECAM)

To our Customers,

Maritime Electric has filed an application with the Island Regulatory and Appeals Commission (IRAC) to adjust the Energy Cost Adjustment Mechanism (ECAM) collection rate from March 1, 2022 to February 28, 2023. If approved, the adjustment will result in a change to the basic energy charge per kWh.

The Company has a contractual entitlement and agreement for the purchase of capacity and system energy from NB Power’s Point Lepreau Nuclear Generating Station. The reason for the adjustment is to recover costs associated with securing replacement energy due to unscheduled outages at the Point LePreau Nuclear Generating Station, as well as associated increased maintenance costs. The adjustment to the collection rate will result in an increase of approximately 2% for typical residential customers.

  Mar. 1 2021 Mar. 1, 2022 Percentage Change
Typical Rural Residential Customer using 650 kWh $132.79 $135.42 2%
Typical General Service Customer using 10,000 kWh $2,235.02 $2,279.37 2%

The ECAM is not a new mechanism and has been in place since the 1970s. It ensures rate stability and predictability for customers over the rate setting period. For more information, please view the full application.