Charlottetown PEI – The impact of high heating-oil prices has landed with a thud on apartment dwellers and other Islanders who live in rental units, thanks to a recent decision by the Island Regulatory and Appeals Commission.

IRAC is allowing for a nine-per-cent rent increase on heated units, so it’s fair to say that many tenants in those units may well be forking out much more in their monthly rents.

The announcement isn’t really a surprise. Last winter’s high oil prices prompted such concern that the Island government gave $200,000 to the Salvation Army to administer to needy families to help them heat their homes. As well, high prices triggered a dramatic spike in the demand for heat alternatives – wood stoves and wood pellet stoves, for example. Read full article…

Source: The Gaurdian