Tag: Profit

Power bills in Nova Scotia may spike as utility looks to refinance $1B in assets | Global News

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Nova Scotia Power Inc. is applying for permission to refinance nearly $1-billion worth of assets, including several coal plants scheduled to close by 2030. The privately owned utility says the complicated financial scheme, known as “securitization,” could result in a 2.9 per cent surcharge on residential power bills next year. Read full story here: Power bills in Nova Scotia may spike as utility looks to refinance $1B in assets | Global News

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Nova Scotia Power wants customers to pay $1.7M interest on leftover Fiona bill, documents show | CBC News

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Nova Scotia Power has provided details on a plan to have ratepayers pick up a $24.6-million bill left over from post-tropical storm Fiona — including nearly $2 million in interest charges. The brutal September 2022 storm is long gone but cleanup costs are still on the books. On Friday, Nova Scotia Power proposed collecting the $24.6 million from ratepayers over a five-year period starting in 2025, after a provincial government rate cap expires. That would cost customers another $1.7 million in interest, according to documents submitted to the Nova Scotia…

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