Nova Scotia Power says electricity will cost a little less next year if the provincial regulator approves a plan to reduce customer fuel costs.
The utility, a subsidiary of Emera Inc. says the plan would see residential bills drop by 1.4 per cent, starting Jan. 1.
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The reduction would be from 1.4 to 2.1 per cent for commercial customers, and two to 3.3 per cent for industrial customers, depending on rate class.
NS Power has asked the Utility and Review Board for approval to reduce the fuel costs.
Customers pay those costs through a fuel adjustment mechanism.
The mechanism reflects the actual cost of fuel used to make electricity and includes an annual adjustment for over-recovery or under-recovery of actual costs in the previous year.