NSP cuts capital plan by nearly $91 million

Nova Scotia Power has cut its capital projects plan by nearly $91 million.

The utility said it’s a move to help keep costs down for rate payers, but GM of technical and construction services David McGregor told News 95.7 we won’t see any difference until the 2015 budget year.

“This initiative we’ve taken here at Nova Scotia Power over the last few months, to take a hard look at our capital program, is one part of a lot of efforts we’re making right across our business to reduce costs,” he explained.

McGregor said the utility has heard affordability is a major concern, and this is part of a long term plan.

“The dollars and cents impact of that won’t be felt until 2015, but certainly it’s going to put downward pressure on our rates,” promised McGregor.

He added none of the projects will be cancelled.

“What we’ve done is chosen to defer some specific projects that won’t affect the reliability of our projects,” he said.

There are about 50 projects that have been put on hold.

“There’s a full UARB hearing here in Halifax on Monday and Tuesday next week where each and every project is part of that process and there can be a discussion in front of the board with their customer stakeholders, and we can talk about every project at that time,” he explained.

He said this is the right time to make the deferrals because the infrastructure has proven it can handle the needs of the province.

“That’s certainly evidenced by the storms we had, with minimal impact to our customers,” said McGregor. “At last we’re starting to see real results in those investment’s we’ve made over the last few years.”

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