Government is implementing key elements of the province’s new electricity plan with legislation introduced on December 1st. During the 2014-15 Electricity System Review consultation, Nova Scotians told us that they want an environmentally responsible energy future, with stable power rates in an accountable and transparent electrical system. They also support innovation when it makes economic sense.
The electricity plan, launched earlier in November, focuses on the four main themes Nova Scotians and experts raised during the Electricity System Review, including;
- support for technology and innovation
- more predictable and stable power ratesOK
- more accountability and a regulatory system that is easier to understand
- more competition for both large and small-scale generation
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“Our plan is about creating an electricity system that works better for Nova Scotians,” said Energy Minister Michel Samson. “Today’s (December 1) bill paves the way for changes that will happen during the next four years to create a more accountable, cleaner and more innovative electricity future over the next 25 years.”
The Electricity Plan Implementation (2015) Act gives authority to the Nova Scotia Utility and Review Board to set performance and reliability standards for Nova Scotia Power. There will be regular reporting requirements and the board can order penalties of up to $1 million each year if the utility fails to achieve the standards. Penalties will be paid for by shareholders and used to reduce fuel costs.
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