Month of hearings begin on Nova Scotia Power’s request for hefty rate increase
Hearings opened Monday in Halifax into Nova Scotia Power’s request for an 11.6 per cent rate increase over the next two years.
Nova Scotia Power president Peter Gregg said the privately owned company is merely asking its regulator, the Nova Scotia Utility and Review Board, for what it needs.
“What we put in this application is what we believe is necessary to get us off coal by 2030 and to continue to service our customers reliably,” Gregg told reporters ahead of the hearing.
“Ultimately what comes out of this process at the end, what the UARB approves in terms of rates is the board’s decision.”
The company is looking to include automatic charges to pay for future storm damage and to fund the cost of retiring its coal plants.
Nova Scotia Power is asking to increase the upper end of its rate of return from 9.25 to 9.5 per cent. …[Read More]