Energy Accord moving through legislature

P.E.I.'s new Energy Accord has passed second reading in the legislature.

The Liberal government bill, which promises to reduce electricity rates by 14 per cent beginning in March and freezes rates for two years, took its next step in Province House Tuesday. 

Premier Robert Ghiz also touched on details of the new commission that will look at the future of power on the Island. He says the commission will consider whether Maritime Electric should be public or private, how it should deal with debt, and how closely it should work with New Brunswick or Newfoundland and Labrador.

The government says it was able to reduce power rates by getting a better deal with NB Power and by taking over some of Maritime Electric's debt.

The Opposition has raised concerns about the cost to taxpayers to take over that debt.