Nova Scotia ratepayers will foot a $163.7-million bill in 2023 to finance, operate and maintain the undersea cable that feeds the province electricity from Newfoundland and Labrador
In a Dec. 22 decision, the province’s Utility and Review Board approved a request made in August by the subsidiary of Nova Scotia Power that operates the cable called the Maritime Link. The review board said the amount will be reflected in Nova Scotia Power’s electricity rates and recovered from customers.
The review board said the subsidiary “stated that the 2023 … forecast is based on its growing experience operating and maintaining the Maritime Link since 2018 and accounts for its continuing efforts to refine, mitigate, and contain costs.” It notes that a marine survey of the link would not be conducted in 2023 as part of cost savings.
The Maritime Link, which was completed on budget and on time, was supposed to be fully operational by 2018 but has only transported minimal electricity to Nova Scotia because of a series of setbacks with the Muskrat Falls project. As a result, the board ordered that Nova Scotia Power could hold back $2 million per month to pay for replacement energy if less than 90 per cent of the expected power from Labrador isn’t delivered. The board was told in February that about 19 per cent of the expected electricity, referred to as the Nova Scotia Block, was delivered between Aug. 15, 2021, and the end of November of that year.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nova Scotia’s regulator approves $164 million in Maritime Link costs for 2023 - Halifax | Globalnews.caNova Scotia's energy regulator approved $163.7 million for 2023 to finance, operate and maintain the undersea hydro electricity cable that feeds the province power from Labrador.
Read more »
Lower natural gas costs to be reflected on 2023 bills: Ontario Energy BoardThe Ontario Energy Board (OEB) has lowered natural gas rates effective Jan. 1 after an extended period of rapidly rising prices.
Read more »
Lower natural gas costs to be reflected on 2023 bills: Ontario Energy BoardThe Ontario Energy Board (OEB) has lowered natural gas rates effective Jan. 1 after an extended period of rapidly rising prices.
Read more »
EXPLAINER: 2023 tax credits for EVs will boost their appealWASHINGTON (AP) — Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. The credit, part of changes…
Read more »
LILLEY: Majority of Canadians want Trudeau to step down in 2023A new poll from Ipsos shows a majority in almost every part of the country think Trudeau should step down as PM and Liberal leader.
Read more »
LILLEY: Majority of Canadians want Trudeau to step down in 2023A new poll from Ipsos shows a majority in almost every part of the country think Trudeau should step down as PM and Liberal leader.
Read more »