Public Opinion
There have been six rate increases over the last decade, with a seventh increase currently proposed. These rate increases have been proposed to cover investments in renewable energy, grid maintenance, environmental efficiencies in its coal generating stations and increased costs of purchasing cleaner coal. Infrastructure updating has been an ongoing issue since privatization leading the utility to fall behind its neighbours in New Brunswick and Newfoundland in creating a "smart grid" to allow more competition into the market, ability to offer other services and efficient method for transmitting energy. Given the monopoly held by the utility on providing power, the rate increases are seen as a way to increase profit share to its stockholders at the cost of businesses and private ratepayers in the region. The utilities largest energy customer, NewPage in Cape Breton has recently laid off workers citing inability to make a profit in the current environment, specifically citing the constant power rate increases as the number one concern.
Read more about this topic: Nova Scotia Power
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