BILL NO. 188
(as introduced)
1st Session, 65th General Assembly
Nova Scotia
4 Charles III, 2026
Private Member's Public Bill
Nova Scotia Power Review Act
Susan Leblanc
Dartmouth North
First Reading: February 23, 2026
Second Reading:
Third Reading:
An Act to Initiate a Regulatory and Ownership
Review of Nova Scotia Power Incorporated
WHEREAS the affordability of electricity bills has become a pressing concern for Nova Scotian households and businesses by placing strain on family budgets and the competitiveness of the provincial economy;
AND WHEREAS recent events, including a major data breach compromising customer information, have eroded public confidence in Nova Scotia Power's governance, transparency and accountability;
AND WHEREAS public ownership models in other jurisdictions have demonstrated advantages in affordability, reinvestment, renewable energy transition and local economic benefits;
AND WHEREAS it is in the public interest to evaluate whether the return of Nova Scotia Power to public ownership would better serve the long-term needs of ratepayers, the provincial economy and the environment;
AND WHEREAS any assessment of public ownership must include a review of the regulatory framework that governs Nova Scotia Power under private ownership, including whether reforms to that framework can deliver comparable public interest outcomes;
THEREFORE be it enacted by the Governor and Assembly as follows:
1 This Act may be cited as the Nova Scotia Power Review Act.
"Emera" means Emera Incorporated;
"leader of a recognized party" means the Leader of the Opposition or a leader of a recognized party as defined in the House of Assembly Act;
"Nova Scotia Power" means Nova Scotia Power Incorporated;
"Task Force" means the Task Force appointed under this Act.
3 (1) After consulting with each leader of a recognized party, the Governor in Council shall, by January 1, 2027, appoint a Task Force of no more than six members to study bringing Nova Scotia Power back into public ownership.
(2) The Task Force must collectively demonstrate expertise in
(a) public utility management or governance;
(b) consumer and ratepayer advocacy;
(c) renewable energy development;
(d) labour union leadership in the energy sector;
(e) Indigenous leadership in energy governance; and
(f) environmental and climate policy.
(3) Subject to Section 10, the Task Force members must be compensated for their time and work commensurate with a competitive wage necessary to carry out their mandate.
4 (1) The Task Force shall evaluate ownership models for Nova Scotia Power primarily on their capacity to meet the following public interest criteria:
(a) ensuring long-term rate stability and affordability for Nova Scotia ratepayers;
(b) achieving or exceeding legislated and regulated greenhouse gas reduction targets and renewable energy goals;
(c) maximizing reinvestment of surplus revenues into energy affordability, renewable generation and grid reliability;
(d) ensuring equitable energy access for rural, low-income and Indigenous communities;
(e) providing transparent and democratic public accountability;
(f) maintaining or growing high-quality employment in the Province's energy sector;
(g) improving Nova Scotia Power's financial performance in ways that benefit ratepayers, including the potential to enhance its credit rating, refinance or restructure existing debt on more favourable terms and lower the long-term cost of capital;
(h) enabling the timely and cost-effective development of large-scale renewable energy projects, including the proposed "Wind West" offshore and onshore wind generation initiative, the integration of such projects into the provincial grid to displace coal-fired power generation and the development of clean energy export capacity;
(i) supporting provincial electrification initiatives, including the planning, financing and deployment of a Province-wide electric vehicle charging network and other electricity grid infrastructure necessary to decarbonize transportation and buildings; and
(j) minimizing the financial and environmental risks to the Province and provide the greatest benefit to Nova Scotians.
(2) In fulfilling its evaluation under subsection (1), the Task Force shall
(a) assess the financial, social and environmental impacts of the 1992 privatization of Nova Scotia Power, including
- (i) whether the utility was sold at a fair market value based on the asset valuations available at the time,
(ii) whether a cost-benefit analysis was conducted prior to the sale and, where so conducted, its scope, methodology, and conclusions, and
(iii) the cumulative total of net profits distributed to shareholders or Emera since privatization that were not reinvested into the Nova Scotia Power system, including an estimate of the infrastructure, renewable generation or rate relief that could have been achieved had those funds remained within the system;
(b) model and compare the provincial fiscal implications of various scenarios, including
- (i) the continuation of private ownership under Emera,
(ii) full public ownership under a provincial Crown corporation, and
(iii) partial public ownership under a provincial Crown corporation, such as being limited to specific classes of assets or operations or through a partial equity stake,
(c) conduct comparative analysis of other jurisdictions that have transitioned from private to public utility ownership and vice versa and the resulting impacts on energy prices and affordability;
(d) assess the historical performance of Nova Scotia Power under public and private ownership models, including its record at meeting or not meeting compliance with environmental and grid reliability targets;
(e) conduct a full financial feasibility assessment of full or partial public acquisition, including projected purchase price, cost of capital, debt servicing requirements and comparison with anticipated annual net revenues under public ownership;
(f) in assessing the projected purchase price, include valuation at book value as reported in Nova Scotia Power's audited financial statements and compare the results with market-based valuations;
(g) evaluate the potential for export revenue generation from the development of large scale renewable energy export infrastructure under public and private ownership models;
(h) examine legal, contractual and regulatory options for excluding stranded fossil fuel assets from a public acquisition or otherwise limiting the Province's exposure to decommissioning costs;
(i) evaluate whether the projected annual costs of servicing any debt incurred for public acquisition are less than the projected annual net revenues generated by Nova Scotia Power, with consideration of historical profit levels; and
(j) identify the ownership model that best meets the criteria in subsection (1).
5 In assessing the viability of Nova Scotia Power's continuation under a private ownership model, the Task Force shall conduct a regulatory and policy review identifying
(a) whether the existing regulatory and legislative framework governing public utilities adequately aligns Nova Scotia Power's operational performance with the public interest criteria set out in subsection 4(1);
(b) the legislative, regulatory or policy changes that would be required to better align Nova Scotia Power's operational performance with the public interest criteria set out in subsection 4(1); and
(c) whether the public interest criteria set out in subsection 4(1) are capable of being achieved under a private ownership model by changing the existing regulatory and policy framework, or if the model's protection of a fair return on invested capital constrains the ability of the regulatory or policy framework to align a public utility's performance with those public interest criteria.
6 (1) Nova Scotia Power, Emera, any subsidiary or affiliate thereof, and any provincial agency, department, or Crown corporation shall, upon request of the Task Force, produce to the Task Force within a reasonable time all documents, data, financial records, contracts and agreements relevant to the execution of its mandate, subject only to applicable claims of legal privilege and protection of privacy.
(2) For the purpose of subsection (1), the Task Force may issue written orders compelling the production of such records and requiring the attendance of witnesses to give evidence under oath or affirmation.
(3) No testimony or other statement given by a witness or other participant may be used or received in evidence against the witness or participant in any trial or other proceeding against the witness or participant, other than a prosecution for perjury in giving the testimony or statement.
(4) Any person or entity receiving an order under subsection (2) shall comply forthwith, subject only to applicable claims of legal privilege and protection of privacy, and the Task Force may apply to the Supreme Court of Nova Scotia for an order enforcing compliance.
7 (1) Subject to Section 10, the Department of Finance and Treasury Board shall, upon request of the Task Force, provide financial, economic and analytical support, including
(a) debt-servicing and credit-rating analysis;
(b) asset valuation, including book value assessment;
(c) modelling of acquisition financing structures; and
(d) review of historical financial data relevant to the privatization and operation of Nova Scotia Power.
(2) Subject to Section 10, the Task Force may retain and pay all reasonable costs of independent legal, technical or financial advisors to assist in carrying out its mandate.
8 The Task Force shall enable public participation by establishing processes for public consultation.
9 (1) The Task Force shall report its findings to the Governor in Council by March 15, 2028.
(2) The Premier or another member of the Executive Council shall table the report in the House of Assembly within 15 days of its receipt by the Governor in Council if the House is sitting or, where the House is not then sitting, file it with the Clerk of the House.
10 The money required for the purpose of this Act must be paid out of money appropriated for that purpose by the Legislature.
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2026 Crown in right of Nova Scotia. Created February 23, 2026. Send comments to legc.office@novascotia.ca.
