Nova Scotia Premier Stephen McNeil is urging the province’s energy regulator to reject a proposed rate hike from Nova Scotia Power.
In a statement released on Tuesday, McNeil expressed his concern over the proposed increase, which would see electricity rates rise by 5.2 per cent for residential customers and 7.6 per cent for small business customers.
The premier argued that the proposed hike is not justified, especially during a time when many Nova Scotians are facing financial challenges due to the COVID-19 pandemic.
McNeil also pointed out that Nova Scotia Power has already received significant rate increases in recent years, and that the company’s profits have been steadily increasing.
He called on the Nova Scotia Utility and Review Board (UARB) to carefully consider the impact of the proposed hike on Nova Scotians, particularly those who are already struggling to make ends meet.
The premier also highlighted the importance of keeping electricity rates affordable for businesses, as they play a crucial role in the province’s economic recovery.
McNeil’s statement comes after Nova Scotia Power submitted its rate application to the UARB in May, citing the need for investments in infrastructure and renewable energy projects.
The UARB is currently reviewing the application and is expected to make a decision in the coming months.
If approved, the proposed rate hike would go into effect on January 1, 2021.
In response to McNeil’s statement, Nova Scotia Power stated that they understand the concerns of their customers and are committed to keeping rates as low as possible.
The company also emphasized the need for investments in the province’s energy infrastructure to ensure reliable and sustainable electricity for Nova Scotians.
The UARB will carefully consider all factors before making a decision on the proposed rate hike, taking into account the concerns of both the premier and Nova Scotia Power.
For now, Nova Scotians will have to wait and see what the outcome will be for their electricity rates.
