BILL NO. 125
(as introduced)
1st Session, 64th General Assembly
Nova Scotia
71 Elizabeth II, 2022
Private Member's Bill
Ratepayers Protection Act
The Honourable Iain Rankin
Timberlea–Prospect
First Reading: April 1, 2022
Second Reading:
Third Reading:
An Act to Protect Nova Scotia Ratepayers
from a Dramatic Increase in Profits
for Nova Scotia Power
AND WHEREAS as we embark on the most ambitious transition to green energy in our province's history there is no justification for unaffordable rate hikes on Nova Scotians;
AND WHEREAS Nova Scotia Power is looking to dramatically increase their profits from the largest set of grid investments in over 50 years;
AND WHEREAS this legislation would prevent the Utility and Review Board from approving Nova Scotia Power's increase on profits they are requesting in the range of 23% and therefore protect the Nova Scotian ratepayer;
THEREFORE be it enacted by the Governor and Assembly as follows:
1 This Act may be cited as the Ratepayers Protection Act.
2 Notwithstanding the Public Utilities Act, the Nova Scotia Utility and Review Board shall limit Nova Scotia Power Incorporated's equity share to 37.5% of its capital investments and its rate of return to between 8.75% and 9.25%.
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2022 Crown in right of Nova Scotia. Created April 1, 2022. Send comments to legc.office@novascotia.ca.
