CANADAHALIFAX news Nova Scotia Power bond rating downgraded by credit rating agency DBRS Morningstar by admin 22 ديسمبر، 2022 written by admin 22 ديسمبر، 2022 29 The agency says the downgrade is due to what it calls the ‘deterioration in the regulatory environment for the firm’ CITYnews halifax\ Canadian Press Listen to this article HALIFAX — A prominent credit rating agency has downgraded the bonds of Nova Scotia’s electrical utility amid the company’s conflicts with the provincial government. In an announcement published on Tuesday, DBRS Morningstar dropped the rating one notch to BBB high from A low for Nova Scotia Power, an Emera Inc. subsidiary. The agency said the downgrade is due to what it called the “deterioration in the regulatory environment for the firm.” Early last month, Nova Scotia’s Progressive Conservative government capped power rate increases over the next two years to 1.8 per cent — excluding increases linked to fuel costs and energy efficiency programs. The rating agency said the rate caps are a problem because of the “significant investment” needed to phase out the utility’s coal-fired generation plants by 2030. DBRS Morningstar said the utility can improve its rating if the provincial government doesn’t interfere in the next rate increase application. The province’s Department of Natural Resources and Renewables released a statement Wednesday saying it has a responsibility to protect ratepayers. “It is up to (Nova Scotia Power) to manage its relationships with its stakeholders,” the statement said. “We expect them to work within their considerable resources to produce power that is affordable, reliable and clean. We are controlling what we can control to protect the ratepayers of Nova Scotia.” This report by The Canadian Press was first published Dec. 21, 2022. The Canadian Press 0 comment 0 FacebookTwitterPinterestEmail admin previous post Police hope for new information on one year anniversary of 8-year-old’s murder next post ‘Weird and wacky’: Hurricane Fiona top weather story in stormy, wet, windy, dry year You may also like Small memorial set up outside Walmart where 19-year-old... 23 أكتوبر، 2024 Province reduces HST rate beginning April 1 23 أكتوبر، 2024 Nova Scotia company fined $80,000 after worker dies... 23 أكتوبر، 2024 Driver caught going 65 km/h over the speed... 23 أكتوبر، 2024 BoC delivers half percentage point rate cut, says... 23 أكتوبر، 2024 الحزب الليبرالي: 24 نائباً يطالبون زعيمهم، ترودو، بالتنحي 23 أكتوبر، 2024 بنك كندا يخفّض الفائدة الأساسية نصف نقطة إلى... 23 أكتوبر، 2024 مظاهرة للتنديد بقصف مستشفى شهداء الأقصى في غزة 23 أكتوبر، 2024 New Brunswick Liberals win majority, Susan Holt first... 22 أكتوبر، 2024 إحياء شهر التراث الأميركي اللاتيني في مانيتوبا للمرة... 22 أكتوبر، 2024