2011 Conservation and Energy Efficiency Plan presented to NS UARB

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2011 Conservation and Energy Efficiency Plan presented to NS UARB

February 26, 2010

As interim administrator, Nova Scotia Power has brought forward a plan for conservation and energy efficiency programs for 2011. The programs are designed to build on the successes of energy efficiency programs that have been helping customers use less energy since 2008, when Nova Scotia Power became the interim administrator for conservation and energy efficiency in the province.

Last fall, the Province of Nova Scotia announced the formation of a new administrator to oversee and deliver conservation and energy efficiency programs. Efficiency Nova Scotia will assume responsibility for the province’s programs in 2010 and will be responsible for delivering these programs beginning later this year. Nova Scotia Power has committed to working closely with the new agency to ensure a smooth transition of these programs.

The 2011 program is the result of a collaborative effort which involved customer representatives and environmental organizations working together to advise on energy conservation programs and administration in Nova Scotia.

“The cost of foreign fossil fuel to make electricity remains unpredictable and has been subject to increases in recent years,” said Alan Richardson, Vice President of Integrated Customer Service for Nova Scotia Power. “Our province’s commitment to conservation and energy efficiency plays an important role in an overall long-term strategy to maintain stable and affordable energy prices, while at the same time increasing customer choice and reducing the impact of power production on the environment.”

Building on the success of the 2008/2009 programs, which resulted in saving enough electricity to power over 9,500 homes (or over 85 million kilowatt hours of energy savings annually), the 2011 plan includes expanded conservation and energy efficiency programs aimed at helping customers use less electricity and save more money.

Customers can reduce their electricity bills by participating in these programs, and all customers benefit from the fuel savings achieved when Nova Scotia Power uses less fuel because of lower energy demand. “These fuel savings flow back to all of our customers through the Fuel Adjustment Mechanism,” explained Richardson.

Programs are available for residential, small business, commercial and industrial customers. The 2011 plan aims to achieve 158.5 million kilowatt hours of annual energy savings. The cost for these programs in 2011 is estimated at $41.9 million and would be allocated across customer groups. These allocations will be approved by the Nova Scotia Utility and Review Board in a separate proceeding scheduled for October 2010.

The 2011 plan expands on programs offered since 2008 and includes:

  • Financial incentives for energy efficiency upgrades for new and existing houses and energy efficient appliances
  • Efficiency upgrades aimed at low income households in Nova Scotia
  • Custom solutions and incentives for new construction and energy efficient lighting for small businesses
  • Investment in education and outreach on energy efficiency, as well as research and development

The Nova Scotia Utility and Review Board has scheduled a public hearing regarding the 2011 plan for April 19, 2010.

Forward-Looking Information
This press release contains forward-looking information and forward-looking statements which reflect the current view of Nova Scotia Power with respect to the Company’s objectives, plans, financial and operating performance, business prospects and opportunities. Wherever used, the words “may”, “will”, “anticipate”, “intend”, “expect”, “estimate”, “plan”, “believe” and similar expressions identify forward-looking statements and forward-looking information. Forward-looking statements and forward-looking information should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of whether, or the times at which, such events, performance or results will be achieved. Nova Scotia Power disclaims any intention or obligation to update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.