Hearings begin on N.S. Power’s proposed 11.6 per cent rate hike
Posted Sep 13, 2022 09:14:36 AM.
Hearings opened yesterday in Halifax looking into Nova Scotia Power's request for an 11.6 per cent rate increase by 2024.
An increase from the regulator's original request for a nearly ten percent increase, that has opponents slamming the application.
The hearings are expected to last the entire month looking into Nova Scotia Power's request.
Company president Peter Gregg said its ultimately the Nova Scotia Utility and Review Board's decision whether or not to accept it.
Nova Scotia Power is looking to include automatic charges to pay for future storm damage and to fund the cost of retiring its coal plans, Gregg adding that we need to decarbonize the grid in this province.
The company is also asking to increase the upper end of its rate of return from 9.25 to 9.5 per cent.
Among those attending the hearing were representatives from the province's opposition parties with NDP leader Claudia Chender and Liberal party leader Zach Churchill calling out the application.
At the hearing, Churchill tweeted, “now is not time for a nearly 12% increase in power rates to increase profits for Nova Scotia Power.”
Hearings are expected to be held until September 29.
