NDP wants performance targets tied to Nova Scotia Power profits
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Claudia Chender, NDP Natural Resources and Renewables spokesperson, said Nova Scotia’s primary allegiance is delivering a guaranteed rate of return to their shareholders.
“Despite the fact we don’t have very reliable power, we pay really high rates and we’re about to pay 10 per cent more if this rate application goes through, the shareholders of Nova Scotia Power still make the same amount of money,” Chender said in an interview after she tabled the bill at the legislature Wednesday afternoon.
Her party’s legislation would guarantee Nova Scotia Power’s profits “will be directly tied to the things that Nova Scotians care about - lower bills, a just transition to clean energy, incentivizing that transition to clean energy, reliability. All the things that people understand to be the ways that a power utility should be regulated, we’re just trying to put that into legislation.”
In a release Wednesday, the NDP noted that when he was in opposition in 2015, Premier Tim Houston said holding Nova Scotia Power to performance standards was “a good concept. It's certainly one that I support.”
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