Nova Scotia rates to jump 5.6 per cent
On January 1 residential ratepayers will see a 5.66 per cent increase in their light bills — about 3.5 per cent to Nova Scotia Power and the rest to an energy conservation program.
Nova Scotia Power says it needs the increase to cover the costs of buying cleaner, more expensive coal, and had originally asked for an immediate 9 per cent increase.
The regulator said in its decision that it accepted the utility's costs as accurate, but Nova Scotia Power will have to go with staggered rate increases over the next three years.
During hearings, some intervenors said that many customers would have seen a more than 10 per cent jump in rates next year.
Industrial customers will see their rates increase almost 7 per cent, while commercial rates will rise 6.2 per cent.
How big the rates hikes will be in 2012 and 2013 will depend on the cost of fuel.
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CALGARY - The Royal Bank of Canada says it is the first Canadian bank to sign a long-term renewable energy power purchase agreement, a deal that will support the development of a 39-megawatt, $70-million solar project in southern Alberta.
The bank has agreed with green energy retailer Bullfrog Power to buy the majority of the electricity produced by the project to be designed and built by BluEarth Renewables of Calgary.
The project is to provide enough power for over 6,400 homes and the panel installations will cover 120 hectares, the size of 170 soccer fields.
The solar installation is to be built in…
