Power rates are going up in Nova Scotia. Residents will see their bills rise by about six per cent. The hike is to offset revenue shortfalls of two of NSP's major clients - NewPage Port Hawkesbury and Bowater Mersey. The mills were looking for a five-year break on the utility's load retention tariff. The province's utility and review board has agreed to three years. Canadian Taxpayers Federation Atlantic Director Kevin Lacey says the writing may be on the wall for Bowater-Mersey. "This could mean trouble for them and you know, ultimately it's important for these companies to survive," Meanwhile, Lacey also slammed NSP and their "high-paid executives" - he says if they were "unload" some of those positions power rates might be lower instead of higher. "What we're seeing today is just the product of years of mismanagement by Nova Scotia Power and now what they're expecting is regular rate payers to pay the price of their mismanagement," The increased power rates take effect January 1st.
