1st Session, 60th General Assembly
55 Elizabeth II, 2006
The Honourable Mark Parent
Minister of Environment and Labour
First Reading: June 30, 2006
Second Reading: November 7, 2006
Third Reading: November 23, 2006 (LINK TO BILL AS PASSED)
This Bill prevents Nova Scotia Power being granted more than one general rate increase in any twelve-month period unless the Nova Scotia Utility and Review Board determines that exceptional circumstances exist that cause substantial financial harm to the ratepayers of Nova Scotia Power or to Nova Scotia Power .
1 Chapter 380 of the Revised Statutes, 1989, the Public Utilities Act, is amended by adding immediately after Section 64 the following Section:
(2) The utility may not be granted a general rate increase to take effect less than twelve months following the effective date of the last preceding general rate increase, whether made before or after the coming into force of this Section.
(3) Subsection (2) does not apply if the Board determines that exceptional circumstances exist that have caused or will cause substantial financial harm to the ratepayers of the utility or to the utility.
(4) The Board shall not make a determination pursuant to subsection (3) until it has held a hearing to determine whether exceptional circumstances exist as set out in that subsection and it has determined that such exceptional circumstances exist.
2 This Act comes into force on such day as the Governor in Council orders and declares by proclamation.