By Devin Stevens
The Canadian Press
Posted October 9, 2026 11:30 am
1 min read
Descrease article font size
Increase article font size
Nova Scotia Power Inc. is applying for permission to refinance nearly $1-billion worth of assets, including several coal plants scheduled to close by 2030.
The privately owned utility says the complicated financial scheme, known as “securitization,” could result in a 2.9 per cent surcharge on residential power bills next year.
Get daily National news
Get daily Canada news delivered to your inbox so you’ll never miss the day’s top stories.
Including a previously approved power rate increase, electricity bills could rise 6.8 per cent in 2027.
Nova Scotia Power says lower interest rates from securitization will save customers $265 million over 30 years compared with not using the finance mechanism.
More on Economy
More videos
Premier Tim Houston, who is an accountant, told CBC in January he was doubtful an accounting change would save money for ratepayers.
The premier, who is also the province’s energy minister, did not attend an Energy Department briefing about new rules enabling securitization on Friday.
© 2026 The Canadian Press