The Nova Scotia Energy Board has approved hikes to Nova Scotia Power rates, but slightly lower than what the utility had asked for. NSP had sought increases of 3.8 per cent this year and 4.1 per cent in 2027.
The board, in its decision, says the the company’s current 9 per cent return on equity should be maintained.
However, the board has ordered a further $8 million reduction in operating, maintenance and general expenses in 2026 and ’27. That’s over and above the $9 million outlined in a settlement agreement by the utility and representatives of most of its customer groups.
Nova Scotis Power photo
It also wants a reduction in the company’s proposed executive compensation for both this year and next.
Also, it has denied NSP’s proposed fee for customers who have not agreed to the installation of an AMI smart meter for remote meter reading and billing.
Nova Scotia Power has been ordered to adjust its rates based on the board’s findings and submit final figures within two weeks. After the review, the board will issue an ourder confirming the new rate for all customers and when the changes will come into effect.