‘Out of touch’: Nova Scotia Power rates expected to increase over next two years

Nova Scotia is expected to raise rates over the next two years.

Nova Scotia Power and customer representatives announced a proposed settlement on power rates for the next two years has been reached.

The settlement was reached through six months of discussion, consultation and information sharing, the utility said.

If the power agreement is approved by the Nova Scotia Energy Board (NSEB), overall average rates for customer classes across the province will increase by 2.1 per cent in 2026 and 2027. The new rates would be effective Jan. 1 of both years.

Premier Tim Houston responded to the settlement saying Nova Scotians still feel betrayed by the utility.

“Time and time again, Nova Scotia Power shows Nova Scotians how out of touch they are. After overseeing one of the largest data breaches in our province’s history, asking Nova Scotians to pay more should not be the utility’s first move,” Houston’s statement reads.

“We still feel betrayed by Nova Scotia Power. This is not the time for a rate increase. This is a time for Nova Scotia Power to show they understand Nova Scotians and withdraw or significantly reduce their application.”

Nova Scotia Power is expected to file the settlement by the end of the month.

“This settlement is the result of strong collaboration and engagement with customer representatives who work on behalf of customers across Nova Scotia,” a release from Nova Scotia Power reads. “We appreciate the time and effort that has gone into the discussions over the last several months to strike a critical balance of affordability for our customers while continuing to invest in the grid to ensure customers have service they can count on.”

Residential rates for both years are expected to rise by around 4.1 per cent.

Seniors advocate Bill VanGorder says the cost of power is a top concern for older Nova Scotians.

“Most seniors are living on fixed incomes,” he said. “That’s a lot of money, that’s $60 or $70 more every year they don’t have on things they can’t afford already.”

The NSEB will make final decisions on rates for each customer group.

“These rates include the benefit of up to $90 million in savings realized over the next two years (up to $225 million over the next 30 years) through a proposed securitization of more than $700 million of thermal assets planned to be retired by 2030 in order to meet federal and provincial environmental policies,” the release reads.

The customer representatives involved in the settlement include:

• consumer advocate
• small business advocate
• industrial group
• the Berwick Electric Commission
• Riverport Electric Light Commission
• the Town of Mahone Bay
• the Town of Antigonish
• Port Hawkesbury Paper

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