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COMMENTARY: A review of IRAC is welcome. Real reform is what Islanders need

Recently, the provincial government announced an independent review of the Island Regulatory and Appeals Commission (IRAC). Energy Democracy Now! Co-operative welcomes it without reservation. IRAC touches almost every part of Island life, and a hard look at its role structure, and responsibilities is overdue.

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But a review is only as good as the changes it is prepared to recommend. For the last two years, EDN has been an intervener in the commission’s energy proceedings. This has taught us something the review should not miss: The problem with energy regulation on Prince Edward Island is not the people who do the work, but the rules they are handed.

The central flaw is what regulators call capital bias. Under the Electric Power Act, Maritime Electric earns its return on investment through........

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