Rankin to Introduce Bill Halting Astronomical Profits off Rate Hikes

In response to the proposed rate hike from Nova Scotia Power, Liberal Leader Iain Rankin will table the Ratepayers Protection Act today.

With the most ambitious transition to clean energy in the province’s history on the horizon, Nova Scotia Power is positioned to be a substantial beneficiary of these projects. Now, the company is trying to push the envelope even further through a proposed rate hike that would see their profits increase by over 20 per cent on the backs of hardworking Nova Scotians during a cost-of-living crisis.

The Ratepayers Protection Act would ensure the premise of increasing profits from a general rate application is prevented before it even reaches public hearings.

“Together with the sustainability mandate that I tabled last session, we can restrict the utility’s ability to ask for increased profits, while at the same time broadening the mandate to ensure what’s best for the environment is also considered,” says Iain Rankin.