HALIFAX, June 15 /CNW/ - Nova Scotia Power has been granted an adjournment of a hearing before the Nova Scotia Utility and Review Board (UARB) regarding a proposed fuel adjustment mechanism (FAM). The hearing was scheduled to begin Monday.
Parties have been working constructively on the content and elements of a FAM. Some issues remain outstanding and NSPI believes they can be better addressed through further constructive dialogue among stakeholders.
The UARB has set a tentative date of November 5, 2007 for the new hearing, and agreed to Nova Scotia Power's request that the dialogue with stakeholders be continued using a facilitator appointed by the regulator.
Nova Scotia Power buys fuel to generate most of its electricity, and world prices have been difficult to predict. A fuel adjustment mechanism is a transparent way to adjust rates to reflect changing fuel prices. A FAM would ensure that customer rates reflect actual fuel costs, no more and no less.