N.S. proposes taking on $117M in costs from Nova Scotia Power to limit 2024 power bill increases

The Nova Scotia government says it hopes to stave off steep electricity rate hikes by handing Nova Scotia Power (NSP) $117 million for fuel costs the utility was set to recover from customers this yearMinister of Natural Resources and Renewables Tory Rushton said Monday that customers will still have to pay the entire amount, but it will be spread out over a 10-year period, limiting bill increases to just 1.1 per cent in 2024, instead of 7 per cent if the government had not acted."Now is not the