The province’s decision to loosen emissions standards has blunted the impact of proposed rate hikes, according to Nova Scotia Power Inc.
NSPI made a request yesterday to the province’s Utility and Review Board to increase rates by 6.5 per cent for residential users, 8.6 per cent for commercial users, and 11.3 per cent for industrial users. NSPI is citing higher fuel costs as the reason behind the increase.
Initially, NSPI forecast an increase of around 12 per cent for residential and 18 per cent for commercial and industrial users.
But thanks to the NDP’s decision last month to put off meeting mercury emissions standards, fuel costs are expected to be $60 million less than originally forecast.
According to NSPI spokesman David Rodenhiser, the fuel adjustment increases are mostly to cover fuel costs incurred earlier this year under the more stringent environmental targets.
The Utility and Review Board will hold a public hearing in October on the proposed rate hike.
