BILL NO. 97
4th Session, 61st General Assembly
61 Elizabeth II, 2012
Fairer Power Rates Act
The Honourable Charlie Parker
Minister of Energy
First Reading: October 25, 2012
Second Reading: November 8, 2012
Third Reading: November 22, 2012 (LINK TO BILL AS PASSED)
Clause 1 sets out the short title of this Act.
Clause 2 allows the Nova Scotia Utility and Review Board to order and obtain an independent savings review from Nova Scotia Power Incorporated (NSPI).
Clause 3 prevents NSPI from being granted a general rate increase that takes effect sooner than 24 months after the last increase. It also prevents NSPI from being granted any further general rate increases, excluding an increase resulting from its existing application before the Nova Scotia Utility and Review Board, that take effect sooner than January 1, 2015, or unless exceptional circumstances exist that have caused or will cause substantial financial harm to ratepayers or to NSPI.
Clause 4 requires that NSPI, by January 1, 2013, and with every rate application made after that, make a report to the Nova Scotia Utility and Review Board identifying each of its executive employees and how much each of the executive employees is paid. The Board must review the report and either approve it or require that it be amended. If NSPI fails to amend the report within 30 days, the Board must determine who are the executive employees of NSPI. NSPI is prohibited from recovering any bonus or incentive compensation or any other remuneration paid to an executive employee of NSPI, other than what is prescribed by the regulations, from any rate, charge or fee approved by the Board.
Clause 5 allows the Governor in Council to make regulations
(a) prescribing the remuneration of an executive employee of NSPI that NSPI may recover from a rate, charge or fee approved by the Nova Scotia Utility and Review Board and tying the prescribed remuneration to that of deputy ministers;
(b) defining words and expressions used but not defined in the Act and further defining words and expressions defined in the Act; and
(c) respecting anything necessary or advisable to carry out the intent and purpose of the Act.
1 This Act may be cited as the Fairer Power Rates Act.
2 Chapter 380 of the Revised Statutes, 1989, the Public Utilities Act, is amended by adding immediately after Section 34 the following Section:
3 (1) Subsection 64A(2) of Chapter 380, as enacted by Chapter 45 of the Acts of 2006, is amended by striking out "less than twelve" in the second line and substituting "sooner than twenty-four".
4 Chapter 380 is further amended by adding immediately after Section 64A the following Section:
(3) The Board shall review the report and determine whether it accurately reflects who the executive employees of Nova Scotia Power Incorporated are, the position held by each executive employee and the remuneration to which each executive employee is entitled.
(7) Where Nova Scotia Power Incorporated fails to amend the report within thirty days of being required to do so, the Board shall determine who is an executive employee of Nova Scotia Power Incorporated for the purpose of this Section.
5 Chapter 380 is further amended by adding immediately after Section 117 the following Section:
(a) prescribing the remuneration of an executive employee of Nova Scotia Power Incorporated that Nova Scotia Power Incorporated may recover from a rate, charge or fee approved by the Board, which remuneration must be derived from the pay plan, as established from time to time, used for deputy ministers in the public service of the Province;
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