Nova Scotia Power's Fuel Projection Practices Need to be Scrutinized

February 2, 2011

 

(Halifax, NS)  Liberal energy critic Andrew Younger says it’s starting to feel like the film Groundhog Day for Nova Scotians with ever-rising electricity bills.

 

Younger is reacting to the admission by Nova Scotia Power that it has again underestimated its end of year fuel costs and is looking to cover its costs by seeking an additional increase above the six per cent hike already approved.

 

“NSP’s fuel cost projections have been consistently incorrect and unreliable,” states Younger. “Since October, NSP’s estimate has ballooned by a staggering 58 per cent. Clearly, the information presented at the last UARB hearing had no basis in reality.”

 

Younger wants the Utility and Review Board to closely examine Nova Scotia Power’s fuel forecasting models before considering any application to increase electricity rates resulting from fuel.

 

“Nova Scotians are already suffered through a six per cent increase this past January 1st. There is already one increase approved for next January. Now there are hearings slated for even more increases - Demand Side Management, Nova Scotia Power's base rate and now a further jump for last year's fuel costs," says Younger.

 

Younger also says it's up to government to talk honestly with residents and businesses about electricity prices.

 

“Electricity prices are skyrocketing. We have among the highest rates in the country. Power rates have jumped over 40 per cent since 2002."

 

"The government cannot sit idly by - it's time for the NDP to initiate an honest public dialogue on the issue of electricity prices and how this impacts our cost of living and competitiveness."

 

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