The Nova Scotia government is bringing in legislation to protect ratepayers from the steep electricity price hikes requested in Nova Scotia Power’s rate change application.
The Tufts Cove power plant in Dartmouth was working overtime to try to keep up with the needs of people who want to heat their homes on cold nights like this in January. - Eric Wynne / FileHALIFAX, N.S. — The Nova Scotia government tabled legislation Wednesday to curb Nova Scotia Power profits and to protect ratepayers from the electricity hikes requested by the company in its rate application currently before its regulator.
Any increases approved outside of fuel and grid reliability upgrades can't exceed 1.8 per cent over two years, according to the new legislation.Tory Rushton, the minister of natural resources and renewables, holds a bill briefing on amendments to the Public Utilities Act at Province House in Halifax on Wednesday. - Tim Krochak
Rushton said about half of Nova Scotia Power costs come from fuel while the other half covers operations and maintenance. "As part of our rate application, we requested over $500 million to strengthen our energy infrastructure and fund 60 new front-line jobs directly related to reliability. Today’s proposed legislation limits this planned investment and the amount of storm preparedness and system hardening we can do in the province.”
The legislation also ensures that any excess earnings, earnings of any amount in which NSP’s return on investment exceeds the range approved by the board, will be returned to ratepayers. The company had requested that it keep half. Former premier Iain Rankin, the Liberal critic for electricity, said the legislation is a step in the right direction.
New Democrat MLA Susan Leblanc discusses the government's legislation to curb Nova Scotia Power profits at Province House in Halifax on Wednesday, Oct. 19, 2022. - Francis Campbell
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Nova Scotia gets cutting-edge cancer diagnostic, treatment machine | SaltWireHALIFAX, N.S. — Nova Scotia is now home to a cutting-edge new cancer imaging and treatment machine that combines incredible accuracy with artificial ...
اقرأ أكثر »
‘Handful of cases’ of flu already in Nova Scotia | SaltWireICYMI Influenza has arrived in Nova Scotia and the province’s chief medical officer of health is urging Nova Scotians to get a vaccine before it surges in December. | SaltWire Today | READ MORE
اقرأ أكثر »
Inverness County Centre for the Arts wins $10,000 community impact award | SaltWireINVERNESS, N.S. — The Inverness County Centre for the Arts has won the 2022 Creative Community Impact Award from Arts Nova Scotia and the Creative Nova ...
اقرأ أكثر »
The Daily Chase: BofA says market 'screams capitulation'; Scotia warns of recession ahead - BNN BloombergA new survey of fund managers conducted by Bank of America says the current macro environment sentiment “screams capitulation”, setting up equity markets for a trough and a subsequent rally in the first half of next year.
اقرأ أكثر »
Atlantic regional weather forecast: October 18, 2022 | SaltWireMarine Forecast - October 19, 2022 Mainland Nova Scotia LURCHER (SW): STRONG WIND WARNING WIND: SE 30 knots, becoming variable 10 to 15 knots near ...
اقرأ أكثر »