Nova Scotia Journal

Saturday, December 2, 2023

Nova Scotia Power aiming 10% rate gain over three years

Nova Scotia

Key takeaways: 

  • The utility also likes to enforce new costs to cover severe weather events’ cost of ending coal-fired plants.
  • Nova Scotia Power’s Tufts Cove generating position in Dartmouth, NS.

NS seeking a 10% increase rate: 

Nova Scotia Power likes to increase electricity rates for residential clients by at least 10 percent over the following three years.

The firm used the Nova Scotia Utility and Review Board Thursday for a 3.3 percent residential rate growth in 2022, 2023, and 2024.

If backed by regulators, the firm stated the typical homeowner would notice their power bills go up by $5 per month, but that is a base-rate growth. Most firms are facing gains of about four percent.

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Nova Scotia power seeking 10% rate gain over three years

The application also aims to increase bills in forthcoming years through new charges.

A storm rider would let Nova Scotia Power grow bills by up to two percent. The rider would require board support and be applied in the following severe storms that begin damage restorations that surpass a five-year average, except the cost of Hurricane Dorian in 2019. This bill could not be utilized before 2024.

NSP desires approval to assess ratepayers for energy-saving schedules that surpass the present expense of $40 million per year. The requirement would go into result in 2023.

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