September 29, 2023 Summerside, P.E.I. Natural Resources Canada
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.
