Tag: Maritime Link

Federal loan to shield Nova Scotia Power customers from 19 per cent rate hike | CTV News

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HALIFAX – The Canadian government have offered a $500 million loan to Nova Scotia Power(opens in a new tab) and the provincial government that will not only help green the power grid and meet greenhouse gas targets, but also avoid the impact of a 19 per cent rate hike for Nova Scotia Power customers next year. Canada’s Minister of Energy and Natural Resources Jonathan Wilkinson was in Halifax Monday to make the announcement and said the $500 million loan addresses an energy shortfall due to significant and unexpected delays in…

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Emera Refuses To Cut Shareholder Returns For ‘Grossly Overestimated’ Maritime Link | CBC News

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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…

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NSP Ordered To Refund Millions To Customers, But Bills Not Likely To Shrink | CBC News

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Nova Scotia Power was ordered to pay a multi-million dollar refund to customers Friday by regulators who ruled a mega-project once again failed to deliver promised benefits. Ratepayers are on the hook for the $1.57-billion Maritime Link, which was completed on time and on budget in 2017 to bring electricity from the Muskrat Falls hydro project into Nova Scotia via subsea cable across the Cabot Strait. The problem is customers haven’t been getting what they paid for. The Maritime Link has not delivered any electricity from Muskrat Falls. That project…

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