BILL NO. 212
1st Session, 64th General Assembly
1 Charles III, 2022
Public Utilities Act
The Honourable Tory Rushton
Minister of Natural Resources and Renewables
First Reading: October 19, 2022
Second Reading: October 27, 2022
Third Reading: November 8, 2022 (WITH COMMITTEE AMENDMENTS) (LINK TO BILL AS PASSED)
Clause 1 requires the Nova Scotia Utility and Review Board to
Clause 2 requires the Board to consider recommendations of the Performance Partnership Advisory Table within 90 days of receiving the recommendations.
Clause 5 requires NSPI to return to ratepayers any amount that exceeds the range for the regulated return on equity.
1 Section 30 of Chapter 380 of the Revised Statutes, 1989, the Public Utilities Act, is amended by adding immediately after subsection (4) the following subsection:
- (5) The Board shall, with the assistance of such engineers, accountants, valuators, counsel and others as it deems wise or advisable to employ,
(a) inquire into and determine the extent, condition and value of the whole or any portion of the property and assets of Nova Scotia Power Incorporated used and useful in furnishing, rendering or supplying a particular service to or for the public, no later than March 31, 2024; and
(b) set different levels of return on equity for different classes of capital assets of Nova Scotia Power Incorporated to ensure that investment incentives are aligned with ratepayer objectives as submitted to the Board in a hearing for a rate change.
2 Subsection 52B(3) of Chapter 380, as enacted by Chapter 27 of the Acts of 2022, is amended by adding "within ninety days of receiving the recommendations" immediately after "recommendations" in the second line of clause (a).
3 Subsection 64A(3) of Chapter 380 is repealed and the following subsections substituted:
- (3) For the purpose of Board Case Number M10431, the net rate increase for the utility, across all rate classes, in 2022, 2023 and 2024 must not be greater than one and eight-tenths per cent, with the exception of an increase respecting
4 Chapter 380 is further amended by adding immediately after Section 64A the following Sections:
- 64AA For the purpose of Board Case Number M10431,
(a) Nova Scotia Power Incorporated must demonstrate a balance is outstanding, or there is a clear demonstrated prediction for an outstanding balance, for a period of not less than twelve months prior to a request for the payment of interest; and
5 Chapter 380 is further amended by adding immediately after Section 64B the following Section:
- 64C Where Nova Scotia Power Incorporated's regulated return on equity exceeds the range approved by the Board in a calendar year, any amount that exceeds that range must be returned to ratepayers in a manner approved by the Board.
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