Electricity rates could fall, say Summerside mayoral candidates

Summerside incumbent mayor Basil Stewart says the city is in a good position to lower electricity rates, but his opponent Bill Martin says he wants to take a closer look at the books before making any promises.

The city is one of the few small Canadian municipalities that owns its electric utility. More than half of its power comes from off-island, while the rest is wind. Some of that power coming from its own wind farm and the rest from a private business.

• IN-DEPTH: Municipal elections on P.E.I. Nov. 3
• Electricty #2 election issue in Summerside

Stewart says Summerside Electric made a profit last year, so the city could lower electricity rates.

"We don't have to follow Maritime Electric rates and so I'd like to see a rate reduction, as well as the service charge removed, so, again, to send out the signal that this is a good place to develop and do business."

Martin says he's not making any promises, but lowering rates isn't out of the question.

"There probably is more of a likelihood that we can give people a break on electrical rates because we do have the ability to capitalize on the asset we own."

Still, Martin says the city has a huge debt, for the utility alone it's almost $14 million. And he says the city needs as much money as it can get if it wants to pay it off its debt.

Islanders go to the polls Nov. 3.