At NS Power, we survey customers regularly to find out what we do well, and what we can improve.
You have told us what matters most to you is the price you pay for electricity, reliable service and NS Power’s environmental performance. What matters to our customers is important to us.
In this issue, we discuss the price of electricity and why customer rates are increasing. There’s also information about how we’re working to help stabilize rates for customers by focusing on renewable energy, which is not only good
for customers, but also good for the environment. There are also some tips, simple things you can do at home that give you real monthly savings to offset increased costs.
There are a number of simple things you can do in your home to save energy and money. Here are a few tips to achieve real monthly savings.
- turn off lights
Turn off the appliances, electronics and lights when you leave a room, or if they are not being used. Save $100 a year.
- turn down the thermostat
Turn your thermostat down when you go to bed or leave the house, or install a program- mable thermostat that will do it automatically. Save $100 a year.
- unplug your second fridge
Unplug your second fridge when it’s not in use.
Save $150 a year.
For more tips, click here.
NS Power has a mix of contracts for our two main fuels: coal and petroleum coke. Several long-term contracts that expire soon had been locked in at lower prices than exist today in world commodities markets. Even though new contracts will be at lower prices than peaks seen in mid-2008, prices we are paying for solid fuel in 2009 are in most instances substantially higher than the old contract prices. New contracts mean NS Power's fuel costs are increasing
- and that's why the rate increase for 2009 has been approved by the Utility and Review Board.
NS Power’s largest single expense is fuel. About 43 cents of every dollar goes to purchasing the fuel needed to produce electricity.
NS Power uses a combination of fossil fuels and renewable energy to produce electricity.
The main ingredient of our fuel mix is solid fuel (coal and petroleum coke), which means electricity prices in Nova Scotia are mostly affected by the cost of this type of fuel. We are working to increase renewable energy to reduce our dependence on fossil fuels. By 2013, close to 20% of our energy is expected to come from renewable sources.
NS Power has a mix of contracts for our two main fuels: coal and petroleum coke. Several long-term contracts that expire soon had been locked in at lower prices than exist today in world commodities markets. Even though new contracts will be at lower prices than peaks seen in mid-2008, prices we are paying for solid fuel in 2009 are in most instances substantially higher than the old contract prices. New contracts mean NS Power's fuel costs are increasing - and that's why the rate increase for 2009 has been approved by the Utility and Review Board.
Starting in 2010, rates will be adjusted using a Fuel Adjustment Mechanism (FAM) recently approved by the Utility and Review Board. The FAM will ensure that rates are adjusted to reflect the actual costs of fuel in the previous year, not a forecast.
We will also continue to increase the amount of energy coming from renewable energy sources such as wind, biomass, and tidal.
There are a number of rebates and programs available to help your business save energy and money.