Nova Scotia Power proposes rate hikes over next two years

Nova Scotia Power said it will apply to raise rates in 2026 and 2027 to help pay for $1.3 billion in what the utility deems “required investments.” Photo by Tim Krochak /THE CHRONICLE HERALDArticle contentNova Scotians could see a hike in their power bill over the next two years.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY.Subscribe now to access this story and more:Unlimited access to the website and appExclusive access to premium content, newsletters and podcastsFull access to the e-Edition app, an electronic replica of the print edition that you can share, download and comment onEnjoy insights and behind-the-scenes analysis from our award-winning journalistsSupport local journalists and the next generation of journalistsSUBSCRIBE TO UNLOCK MORE ARTICLES.Subscribe or sign in to your account to continue your reading experience.Unlimited access to the website and appExclusive access to premium content, newsletters and podcastsFull access to the e-Edition app, an electronic replica of the print edition that you can share, download and comment onEnjoy insights and behind-the-scenes analysis from our award-winning journalistsSupport local journalists and the next generation of journalistsRegister to unlock more articles.Create an account or sign in to continue your reading experience.Access additional stories every monthShare your thoughts and join the conversation in our commenting communityGet email updates from your favourite authorsSign In or Create an AccountorArticle contentNova Scotia Power, the primary provider of electricity generation and transmission to 550,000 residential, commercial and industrial customers in the province, said it will apply to raise rates in 2026 and 2027 to help pay for $1.3 billion in what the utility deems “required investments.”Article contentArticle contentArticle contentThe proposal still has to go before the Nova Scotia Energy Board for approval.Article contentIf approved by the regulator, the average rate increase for all customers would be 2.1 per cent for each of the next two years. The residential rate would go up 4.1 per cent in 2026 and again in 2027. The rate hikes would take effect on Jan. 1 of each year.Article contentThe proposed rate hike does not sit well with provincial government leaders.Article content“Time and time again, Nova Scotia Power shows Nova Scotians how out of touch they are,” Premier Tim Houston said in a statement.Article contentHouston cited a cybersecurity attack on Nova Scotia Power earlier this year. Certain information of 280,000 NSP customers stored on affected servers was stolen and later published by a cyberthief. The theft included the social insurance numbers of 140,000 customers.Article content“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 said.Article contentArticle content“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.”Article contentInterim Liberal Leader Derek Mombourquette said, “Nova Scotians need more than frustration from their government.”Article content“They need results,” Mombourquette said in a news release. “Under Tim Houston, power rates have risen more than 20 per cent and now Nova Scotia Power is asking for even more – on the heels of the province’s largest-ever data breach.Article content“The government has repeatedly failed to invest in cleaner, cheaper power. The premier’s sudden frustration isn’t sincere, it’s damage control for allowing this situation to get out of hand. When bills go up, Nova Scotians aren’t just paying for Nova Scotia Power’s mistakes. They’re paying for government inaction.”