Ottawa Announces $500M Bailout to Curb Nova Scotia Power Rate Hikes

Federal funds aim to mitigate the impact of Muskrat Falls hydroelectric delays on Nova Scotia's electricity rates.

The $500 million bailout is intended to prevent a potential 19% increase in Nova Scotia's electricity rates.
Nova Scotia Power Inc. faced higher costs due to inconsistent power delivery from the Muskrat Falls hydroelectric plant.
The bailout will help spread the increased fuel costs over several years, limiting rate hikes to around the rate of inflation.
Muskrat Falls has experienced production difficulties and software glitches, affecting power supply to Nova Scotia.
The announcement follows prior federal investments in Nova Scotia's clean energy projects, including battery storage and wind farms.