New Electricity Rates Effective May 1, 2023

Electricity costs are changing May 1, 2023. The Island Regulatory and Appeals Commission issued Order UE23-04 approving Maritime Electric’s negotiated settlement with the Prince Edward Island Energy Corporation, which includes new electricity rates effective May 1, 2023 until February 28, 2026. Electricity costs for a benchmark customer will increase by approximately 2.6% in 2023 and 2024 and by approximately 2.7% in 2025. These rate increases allow the Company to respond to the growth of electrification, invest in reliability, and provide safe and reliable service for customers.

To view IRAC’s Order, please visit

Annual Increase for Benchmark Customer*

2023/2024 2024/2025 2025/2026
2.6% 2.6% 2.7%

*A benchmark residential customer consumes 650 kWh per month.


If you require more information, please email us at or phone us between 9 a.m. and 4 p.m. Monday through Friday at 1-800-670-1012.