Nova Scotia Power has been given an extension to continue talks with the province about rates.
The utility has applied for a 10 percent rate increase between now and 2024. However, the company did not anticipate the price of fuel would be so high.
Their application to increase rates was based on fuel prices from last May. The utility is permitted to pass increased fuel costs onto its customers on a yearly basis without the need to have a hearing on how it impacts the cost of bills.
The company wrote the Nova Scotia Utility and Review Board to request a delay in the hearings in a letter dated August 10 and posted to the boards website. In the letter, NSP disclosed it was meeting with the province to work on “solutions” to the higher fuel costs.
The province and NSP are believed to be working on a deal to avoid passing those higher fuel costs onto customers, but it’s not clear who will pay the difference.
The Nova Scotia government is working to “protect ratepayers” from a higher than proposed increase for power.
The hearings will now start September 12.
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