N.S. premier fires off warning to incoming CEO at utility about relying on rate hikes

Nova Scotia Power's headquarters are pictured in Halifax on Nov. 20, 2025. (Callum Smith/CTV Atlantic)

HALIFAX — Nova Scotia’s premier has fired off a warning to the incoming CEO of the province’s private power utility, accusing the company of relying on an outdated business model that requires rate hikes for customers.

Tim Houston shared the lengthy statement on his social media platforms Wednesday evening, urging the new executive of Nova Scotia Power to change course on its latest proposal to increase rates. Houston’s comments came after the utility announced earlier in the week that current board member Vivek Sood would become the new CEO on March 1.

“While I wish the new CEO more success than his predecessors, I am concerned this announcement is less about real change and more about deflecting from a long-standing pattern of failure,” said Houston, who is also the minister of energy.

Sood is replacing Peter Gregg, who is slated to become vice-president of strategy and policy with the utility’s parent company Emera.

Nova Scotia Power has requested a residential rate increase of about eight per cent by next year. If approved by the provincial energy board, the first 3.8 per cent increase would be effective retroactive to Jan. 1, and the second 4.1 per cent hike would begin Jan. 1, 2027.

The utility board has argued before the energy board that rate increases are needed to support its $1.3-billion plan to strengthen the grid, expand tree-trimming and vegetation management, and improve its storm response to cope with extreme weather events.

In response, Houston says the utility’s message is the “same as always: the monopoly wants more. More staff. More capital. More profit.” The premier said the company is failing to modernize or consider energy generation alternatives, like offshore wind, solar or tidal power, and is putting the financial burden onto ratepayers.

“Nova Scotia powered Canada once before. We can lead again -- if we stop treating yesterday’s monopoly as the only option for tomorrow’s economy. The question that belongs to all of us: whether we continue relying on a single utility whose business model depends on rising electricity rates, or whether we build a modern, diversified energy system that puts Nova Scotians first,” he said.

Houston said his department has worked hard to show the board evidence that it should reject the rate hike application; however, he said he would not overrule the board if they were to approve it. “If a government were to take the extraordinary step to overrule the regulator, it would risk creating chaos in the market,” he said.

Liberal member Derek Mombourquette accused the premier on Thursday of “looking for likes on social media” with this statement at a time when he should be present in the province. Houston is attending an offshore wind and ocean renewables conference in New York.

Claudia Chender, the official Opposition NDP Leader, said Thursday it’s embarrassing that the premier who is also energy minister is relying on social media to communicate with residents “at a time when 43 per cent of Nova Scotians can’t afford their energy costs.”

“The premier has a lot more tools” to address the high cost of energy that he is not using, Chender said. Her party has advocated for a low-income power rate, rebates for more residents and a full ownership review of Nova Scotia Power.

A spokesperson with the premier’s office said in addition to the statement being released on social media, it was shared with community newspapers in the form of an op-ed.

This report by The Canadian Press was first published Feb. 12, 2026.

By Lyndsay Armstrong