Nova Scotia Power profits up, while families struggle with power rate increases
August 9, 2016
For immediate release.
HALIFAX – Nova Scotia Power’s quarterly net income was up $11.5 million or 68 per cent over this time last year, according to a release from parent company Emera.
“It is unacceptable that Nova Scotia Power is raking in millions in profits, while people are choosing between feeding their families and keeping the lights on,” said NDP Leader Gary Burrill.
Last month, the Nova Scotia Utility and Review Board permitted Nova Scotia Power to increase power rates by 1.3 per cent each year for the next three years.
“These financial statements are yet another reminder that Stephen McNeil broke his promise to lower power rates by breaking Nova Scotia Power’s monopoly and by addressing the corporation’s guaranteed rate of return,” said NDP Energy Critic Sterling Belliveau.
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