NSP rejects proposal to phase-in rate hikes

Nova Scotia Power is saying no to phasing-in a planned power rate increase.

The utility says it needs more money next year from customers, to pay for fuel.

Nova Scotia Power is asking its regulator for another 6.5 per cent from residential customers and even more from industry.

The Utility and Review Board’s consumer advocate wants the hike phased in, over three years.

But NSP says it needs the money now and phasing in the hike would lead to higher borrowing costs later when it builds a wind farm.

Power customers like John tell News 95.7 this bitter pill would go down a little easier if it were gradual.

“If it’s phased in over a few years sure,” he said. “But to just slap it all on us at one time, what’s the reason? Why are they in that much need of money right now?”

More significant increases are expected in the coming years to pay for “green” projects.

UARB hearings on this hike continue later today.

Top Stories

Top Stories

Most Watched Today