HALIFAX: N.S. has approved regulations to enable Nova Scotia Power Inc. to apply to the Nova Scotia Energy Board to seek authority to securitize utility assets.
Securitization is a financing mechanism that allows for the recovery of approved costs at a lower interest rate and longer time period, lowering costs for customers.
Every aspect of an application to the energy board will be scrutinized to ensure that this approach is in the best interests of Nova Scotians.
These regulations are another part of the government’s plan to help shield Nova Scotian from sudden and significant rate increases.
Over the past five years, the Province has created the Independent Energy System Operator, advanced the clean power plan, restructured the Nova Scotia Energy Board, and introduced legislation to review performance-based regulation.
The new regulations are at: https://novascotia.ca/just/regulations/regsbyact.htm#pubut
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PREMIER STATEMENT:
The following is a statement from Premier Tim Houston, who is also the Minister of Energy, on the new Financing Orders and Securitized Bonds Regulations.
“In the Nova Scotia Energy Board’s 2026 general rate decision, Matter M12451, it indicated that it believed securitization could potentially lower financing costs and potentially help protect Nova Scotia Power’s credit rating.
“These are things that could protect ratepayers.
“Our only objective is to protect ratepayers and, as such, I have agreed to give the professionals at the board the space and authority to conduct a formal process and determine if it is truly in the best interest of ratepayers.
“This should be a factual, objective decision so we are removing the politics from the discussion.”