2022-2024 General Rate Application

2022 General Rate Applicaiton

UPDATE - February 2, 2023:  The Utility and Review Board approved the Settlement Agreement reached in November 2022. This ruling is the result of a robust, transparent regulatory process that focused on our customers over the past year—thank you to everyone who was involved in this process. 

To our customers, we are reviewing the details of this ruling, and we will be sharing updates as soon as we can.

UARB Decision News Release

 

UPDATE - November 25, 2022: Nova Scotia Power has reached a proposed settlement with customer representatives in the 2022-2024 general rate application. More information can be found via the links below.

Read our fact sheet Proposed settlement agreement Bill 212


Our Commitment to Our Customers

We’re committed to delivering safe and reliable electricity to our customers across the province. We are also committed to transitioning to cleaner sources of energy so we can meet governments’ climate change goals.

Big changes are necessary to meet this target. It’s why we’ve applied to the Nova Scotia Utility and Review Board (UARB) for rate increases in 2022, 2023 and 2024. This is the first general rate application we’ve filed since 2012. The rate increases will support the changes we need to make to enable us to meet governments’ environment goals and requirements, and to ensure we can meet our customers’ needs and expectations. 

Understanding Our General Rate Application

Climate change is a real concern for all of us. The Federal and Provincial Governments are focused on reducing carbon emissions on an expedited basis to mitigate potential impacts. This includes the requirement to phase out coal-fired electricity and deliver 80 per cent renewable energy for customers by 2030.

We’re committed to achieving these goals, which means we need to transform how we make, deliver and store electricity in less than 10 years—to change an electrical system that took over 50 years to build. 

Nova Scotia’s weather is changing too, bringing more intense storm events and increased wind speeds which affect reliability. Delivering reliable service is more important than ever because today’s technology is driving an increased demand for electricity. Our customers rely on electricity to live, work and thrive in a modern Nova Scotia. This means we need to strengthen and modernize our electrical system so that it can stand up to changing weather and meet the energy needs of our customers.

Since our last general rate application in 2012, we have made significant investments on these fronts while only raising electricity rates to account for the rising costs of fuel. Even though inflation has risen significantly over the years, our rate increases, which have related solely to fuel cost, have been kept in line with general inflation.

We’ve accomplished this while managing the rising costs that we and all businesses have experienced to keep costs as low as possible for customers. Managing costs for customers is always our priority—and it has required discipline and planning.

This general rate application will allow us to:

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REMOVE CARBON

Continue to work to remove carbon from electricity and transition our power plants away from coal, resulting in lower emissions;
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STRENGTHEN AND MODERNIZE ELECTRICAL SYSTEM

Continue to strengthen and modernize our electrical system, so that it can stand up to changing weather conditions caused by climate change and support our customers;
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ENHANCE AND IMPROVE RELIABILITY

Change how we make, deliver and store electricity to enhance and improve reliability, reduce power outages and keep you connected;
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MEET CLEAN ENERGY GOALS

Establish and combine the right technologies and green solutions that will help us meet our clean energy goals; and
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KEEP CUSTOMERS' CONVENIENCE AT THE FOREFRONT

Deliver innovative energy solutions to keep our customers' convenience at the forefront, by making it easier and faster to access information to make choices regarding your electricity usage.

Understanding Electricity Rates

What does this mean for your electricity bill?

In Nova Scotia, the cost of electricity is broken down into three main components: Demand Side Management (DSM), fuel cost and non-fuel costs. 

  • DSM is the electricity efficiency and conservation programs delivered by EfficiencyOne (E1).
  • Fuel cost is a pass-through which means that customers pay for only the actual cost of fuel. 
  • Non-fuel costs are all other operating costs of the electricity utility.

We’re investing for today and the future

Since our last general rate application in 2012, we’ve made significant investments to transition to clean energy, strengthen reliability, and deliver innovative energy solutions to meet the expectations of our customers.  As Nova Scotians, we are also committed to supporting the communities where we live and work.

FREQUENTLY ASKED QUESTIONS

Why did you ask for a general rate application?

This general rate application will allow us to:

  • Continue to work to remove carbon from electricity and transition our power plants away from coal, resulting in lower emissions.
  • Continue to strengthen and modernize our electrical system so that it can stand up to changing weather conditions caused by climate change and support our customers.
  • Change how we make, deliver and store electricity to enhance and improve reliability, reduce power outages and keep you connected.
  • Establish and combine the right technologies and green solutions that will help us meet our clean energy goals.
  • Deliver innovative energy solutions to keep our customers' convenience at the forefront by making it easier and faster to access information to make choices regarding your electricity usage.

Inflation costs have risen by more than 11% since 2014 and continue to increase. Through aggressive and careful cost management, our rate increases, which have related solely to fuel cost, have been kept in line with general inflation. We have not increased non-fuel rates, which are the costs to operate the business.

But now we must transform how we make, deliver and store electricity which is why are requesting a rate adjustment to meet the changing demands for electricity and governments’ climate change goals.

What supports are in place to assist customers?

We recognize that any rate increase, no matter the amount, may create a challenge for some customers. We regularly hear from customers about the issues they face to pay bills as costs continue to increase for basic living needs such as food, housing and heating. It is important to us that we continue to support customers through programs which provide financial assistance and energy efficiency programs such as the HEAT Fund and HomeWarming. Learn more.

We also engage regularly with Low Income Advocates to discuss what types of support are needed to assist customers with energy costs. We are committed to continuing to engage with them on opportunities. 

 

Why do rates continue to increase?

This rate change is related specifically to fuel costs. We know a rate increase is never welcome news when the cost of everything has gone up. The increase goes directly towards paying for the fuel used to generate electricity. Fuel costs are managed separately from general rates so that customers pay the exact cost of fuel; no more, no less.

Over the past year, we have seen a huge increase in fuel costs due to global factors outside of Nova Scotia. Knowing the pressures already facing Nova Scotians, we worked with the province and they decided to assist with managing fuel costs, which helped to reduce the rate impact in 2024 for our customers. Like all costs, the cost of fuel to generate electricity is subject to rigorous oversight and is approved by the Nova Scotia Utility and Review Board.

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