Warden Vernon Pitts says he expects to see the transfer of assets of the Canso Electric Light 
Utility (CEU) from the Municipality of the District of Guysborough to Nova Scotia Power (NSP) happen by the end of the year.
Following their monthly council meeting Pitts told reporters that the transfer is in the works and it’s presently before the Nova Scotia Utility and Review Board and the municipality hopes to see the agreement transfer of assets be finalized and in NSP hands by the new year.
The sale is for a nominal sum of $1 pursuant to an agreement of purchase and sale made effective Jan. 1, 2020.
The joint-application reads the CEU can no longer be maintained without large investments in infrastructure and equipment as current electricity rates in Canso don’t cover operating expenses. The costs to continue to operate CEU for the municipality would have a significant impact on electricity rates for CEU’s residential customers – estimated to be a 40 per cent increase.