Nova Scotia legislation seeks to reduce impact of looming power rate hike

Nova Scotia Power is currently before the provincial regulator and is asking for a general rate increase of nearly 14 per cent over the next two years

CITY NEWS HALIFAX\ Canadian Press

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HALIFAX — Proposed legislative changes introduced today in Nova Scotia are meant to soften the blow of what likely will still be a significant future increase in power bills.

Nova Scotia Power is currently before the provincial regulator and is asking for a general rate increase of nearly 14 per cent over the next two years.

Natural Resources Minister Tory Rushton says today’s proposed amendments to the Public Utilities Act would prevent the Nova Scotia Utilities and Review Board from approving an increase based on the utility’s costs, with the notable exceptions of fuel costs and those that improve the reliability of the grid.

Rushton says that leaving aside fuel costs, the rate increase would be limited to 1.8 per cent over the next two years.

However, with rising fuel costs for Nova Scotia Power’s coal-fired plants, Rushton admits that any final decision by the review board will likely still see a hefty increase that is closer to the utility’s original rate increase application.

The review board is expected to make its decision before the end of December.

This report by The Canadian Press was first published Oct. 19, 2022.

The Canadian Press