Nova Scotia Power seeking 10% rate increase over 3 years
Utility also wants to implement new charges to cover extreme weather events, cost of closing coal-fired plants
The company applied to the Nova Scotia Utility and Review Board Thursday for a 3.3 per cent residential rate increase in 2022, 2023 and 2024.
If approved by regulators, the company said the typical homeowner would see their power bills go up by $5 per month, but that is a base-rate increase. Most businesses are facing increases of around four per cent.
The application also seeks permission to raise bills in future years through new charges.
A storm rider would allow Nova Scotia Power to increase bills by up to two per cent. The rider would need board approval and be applied in the year following extreme storms that trigger damage repairs that exceed a five-year average, excluding the cost of Hurricane Dorian in 2019. This charge could not be used before 2024.
NSP wants permission to charge ratepayers for energy-saving programs that exceed the current cost of $40 million per year. The provision would go into effect in 2023… [Read More]
Note: Since this story was published, Premier Tim Houston stated that the Province is seeking intervenor status at NSP’s upcoming URB hearing opposing the proposed increase.