Tag: Rate Hike

Nova Scotia Power proposes single-digit rate hikes for next 2 years | CBC News

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Nova Scotia Power says it will apply later this month to raise rates in 2026 and 2027 to help pay for $1.3 billion in maintenance and improvements to the electricity grid, while continuing to hit the publicly traded company’s target profit margin. The average rate increase for all customers would be 2.1 per cent for each of the next two years, with the residential rate going up about 4.1 per cent each year. The rate hikes would take effect on Jan. 1 of each year. Read full story here: Nova…

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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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N.S. Power wants ratepayers to cover $22M bill for last year’s storm damages, repairs | CTV News

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Nova Scotia Power has filed an application with the province’s Utility and Review Board (UARB) to have ratepayers cover the cost of last year’s storm damage to the tune of $22 million. It’s a request that isn’t sitting well with Premier Tim Houston. “I wish Nova Scotia Power would have more empathy towards Nova Scotians,” Houston says. “Folks are already paying a lot in Nova Scotia when it comes to power. If you look at the last couple of years, you’ve seen combined increases near 15 per cent bills and…

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Posthaste: The Canadian dollar is getting hammered — and its future looks even bleaker | Financial Post

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So what’s up with the Canadian dollar? While many thought the currency would strengthen in 2023, the loonie has slid to depths not seen since the height of the pandemic. (This morning it was trading near a 6-month low of 72.43 US cents) A big part of this mystery is that the drivers of the currency have changed. When a hawkish Bank of Canada was raising interest rates it supported the loonie, but now that the slowing economy has reduced the risk of more hikes, new drivers are taking over.…

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