2020-2022 Fuel Stability Plan
In December 2019, the Nova Scotia Utility and Review Board (UARB) approved
Nova Scotia Power’s three-year fuel stability plan. In 2020, 2021 and 2022,
residential electricity rates will increase an average of 1.2% each year.
This increase, which goes directly towards paying for renewable energy
contracts and the fuel used to generate electricity, equates to about $2 per
month for the average household. That figure varies based on an individual
household’s electricity use. For example, larger homes with older appliances,
or poor insulation, use more electricity, particularly during the winter
months.
Our investments in diverse electricity sources, prudent fuel
procurement, and strict corporate cost control have allowed us to offer greater
predictability and stability for our customers. Power rates have been stable in
Nova Scotia since 2014. Residential rates did not rise in 2015, they went down
slightly in 2016, and they increased 1.7% per year in 2017, 2018 and 2019.