HALIFAX — Ottawa has finalized a $500-million bailout to help Nova Scotia Power keep rates from skyrocketing due to delivery delays of Muskrat Falls...
HALIFAX — Ottawa has finalized a $500-million bailout to help Nova Scotia Power keep rates from skyrocketing due to delivery delays of Muskrat Falls electricity.
Wilkinson has said without the loan guarantee, average power rates might have gone up by close to 20 per cent over several years, while Nova Scotia Power CEO Peter Gregg has said he expects the loan would keep rate increases to "around the rate of inflation." But the massive dam and generating station has been inconsistent in delivering electricity over the past five years.
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