Nova Scotia Protects Electricity Ratepayers with Solution for High Fuel Costs
The government is protecting Nova Scotians from another significant increase in power rates this year. Nova Scotia Power has a large balance of fuel costs that has accumulated over the past few years. Record high fuel costs and delays in getting renewable energy from Muskrat Falls since 2018 have created an unprecedented situation that calls for swift action to protect ratepayers. A proposal to extend the time for ratepayers to cover a portion of Nova Scotia Power’s fuel costs would mean a rate increase of just over one per cent. Ratepayers would face a seven per cent increase without government action, and industrial customers would see 13 per cent.
