The parent company of Nova Scotia Power has rejected a request from regulators to voluntarily reduce shareholder returns on the $1.5-billion Maritime Link, instead announcing a donation to the Salvation Army as compensation over delays.
The Nova Scotia Utility and Review Board had urged Emera — through its affiliate Nova Scotia Power Maritime Link — to lower its nine per cent rate of return because the project has failed to deliver promised benefits.
The transmission system was completed three years ago to import hydroelectricity from the massive turbines at Muskrat Falls in Labrador.
Read full story here: Emera Refuses To Cut Shareholder Returns For ‘Grossly Overestimated’ Maritime Link | CBC News
