N.S. Liberal leader urges UARB to reject power rate settlement9/18/2012
Nova Scotia Liberal Leader Stephen McNeil is urging the province’s Utility and Review Board to reject a proposed power rate settlement.
Last week, Nova Scotia Power and a number of customer groups settled on a three per cent rate increase each year for the next two years, starting in 2013.
However, McNeil told board members the evidence presented to the UARB does not support the proposed increase settlement.
“We respectfully ask that the board deny the request for rate of increase in 2013 and in 2014, and the rate stabilization plan put forward by Nova Scotia Power Incorporated,” McNeil told board members at a hearing Tuesday morning.
“Despite the settlement agreement proposed before you, we find that the evidence presented to the board simply does not justify the increase on top of deferred and future fuel adjustments through the processes already in place.”
McNeil advised the board to cut Nova Scotia Power’s maximum regulated profit from nine per cent to seven per cent.
Conservative Leader Jamie Baillie also raised concerns about the proposed rate hikes, saying they would be a hardship on Nova Scotians.
“I believe affordability needs to be put back at the forefront of decision making about our power rates,” he said.
Read more: http://atlantic.ctvnews.ca/n-s-liberal-leader-urges-uarb-to-reject-power-rate-settlement-1.960988#ixzz26qc5IkZd