Nova Scotia’s regulator approves $164 million in Maritime Link costs for 2023
HALIFAX –
Nova Scotia ratepayers will foot a $163.7-million invoice in 2023 to finance, function and keep the undersea cable that feeds the province electrical energy from Newfoundland and Labrador.
In a Dec. 22 determination, the province’s Utility and Review Board accredited a request made in August by the subsidiary of Nova Scotia Power that operates the cable referred to as the Maritime Link. The overview board stated the quantity can be mirrored in Nova Scotia Power’s electrical energy charges and recovered from clients.
The 2023 value evaluation is about $5 million decrease than the $169 million accredited for 2022. The total lower consists of $1.9 million much less for working and upkeep prices.
The overview board stated the subsidiary “stated that the 2023 forecast is based on its growing experience operating and maintaining the Maritime Link since 2018 and accounts for its continuing efforts to refine, mitigate, and contain costs.” It notes {that a} marine survey of the hyperlink wouldn’t be carried out in 2023 as a part of value financial savings.
In February, the board accredited the restoration of $1.7 billion over 35 years for the price of the cable, which is supposed to hold electrical energy from the Muskrat Falls hydroelectric challenge.
The Maritime Link, which was accomplished on finances and on time, was alleged to be totally operational by 2018 however has solely transported minimal electrical energy to Nova Scotia due to a collection of setbacks with the Muskrat Falls challenge.
Nova Scotia’s energy utility launched figures forward of the February determination indicating $205.5 million was spent on substitute fuels over the previous 4 years due to the delays.
As a end result, the board ordered that Nova Scotia Power may maintain again $2 million per thirty days to pay for substitute power if lower than 90 per cent of the anticipated energy from Labrador is not delivered. The board was informed in February that about 19 per cent of the anticipated electrical energy, known as the Nova Scotia Block, was delivered between Aug. 15, 2021, and the tip of November of that 12 months.
“Unfortunately, delays in Nova Scotia Block deliveries persist, potentially leading to significant replacement energy costs,” the board stated.
In its new determination the board stated the $2 million month-to-month holdback would proceed on an interim foundation and could be reviewed in a separate continuing to be held in January.
Meanwhile, the overview board is anticipated to launch its determination shortly on an influence charge enhance.
This report by The Canadian Press was first revealed Dec. 28, 2022.
