Nova Scotia Power won't file application to increase rates for 2015

HALIFAX – Nova Scotia Power (TSX:NSI.PR.D) doesn’t plan to file an application for higher electricity rates in 2015.

The company says it also isn’t looking for more from its customers to cover a fuel rate increase.

The utility was granted a three per cent rate increase in 2013, and another three per cent increase at the beginning of this year.

It has said the rate increases would add about $3.50 per month to the average household power bill in each year.

President Bob Hanf says a two-year plan to stabilize rates passed by the Nova Scotia Utility and Review Board has led the company to reduce its operating costs.

The utility is owned by Emera (TSX:EMA) Inc.