For residential customers, this means the overall price of electricity will be the same in 2015 as it was in 2014. For commercial and industrial customers, the impact varies by rate class. For example, small businesses Small General rate class will see a 4.5 percent reduction in the overall price of electricity.
The increase in energy rates is related to the recovery of outstanding fuel costs from 2013 and 2014, incurred primarily due to high natural gas prices. By provincial regulation, the cost of the fuel Nova Scotia Power uses to make electricity is a direct flow-through to customers, so that customers pay only the true cost of fuel.
The plan to offset increased energy rates with the savings from the removal of the ENS charge was requested by customer representatives and approved by the Utility and Review Board in December 2014.