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The Energy Board has approved Nova Scotia Power’s rate increases for residential customers with adjustments it says will slightly lower the increases.
NSP proposed an increase for residential customers of 3.8% this year and 4.1% next year.
The Board says NSP will adjust its rates for 2026 and 2027 based on the Board’s findings and submit the final figures within two weeks.
The adjustments the Energy Board has made to NSP’s application include a further $8-million reduction in operating, maintenance, and general expenses this year and next.
The Board is also requiring the utility to reduce its proposed executive compensation in both 2026 and 2027.
It’s also imposing a $1.8-million reduction in NSP’s fuel and purchased power costs.
