Nova Scotia Power customers might soon see an increase in rates.
The company is filing a General Rate Application, which would increase the rates they charge customers.
President and CEO of NS Power Peter Gregg discussed the increases in an online information session.
“Announcements like this can be challenging for our customers but it’s important that we continue to invest in a system that provides reliable power and that is why we are here today.”
NS Power says there are five key components to why they are making the application: decarbonization, storm recovery, net metering, demand side management and the ability to invest. The increases will not change the company’s profit margins.
Gregg discussed why they are making the application now.
“We have not seen an adjustment in the cost to operate our business, outside of fuel costs, in a decade,” says Gregg. “We’re not asking for more than we need to run a reliable business that our customers can count on.”
Gregg says the last time rates were adjusted was in 2014, after an application in 2012.
A breakdown of increases by customer class:
