Nova Scotia’s regulator approves $164 million in Maritime Link costs for 2023

HALIFAX –

Nova Scotia’s energy regulator has approved $163.7 million for 2023 to finance, operate and maintain the undersea hydro electricity cable that feeds the province power from Labrador.

In a Dec. 22 decision, the Utility and Review Board approved a request made in August by Nova Scotia Power Maritime Link Incorporated for the cable to Nova Scotia.

The review board says the amount will be reflected in Nova Scotia Power’s electricity rates and will be recovered from customers.

The 2023 cost assessment is about $5 million lower than the $169 million approved for 2022.

Earlier this year, the review board gave the provincial utility approval to recover $1.7 billion over 35 years for the cost of the cable, which is meant to carry electricity from the Muskrat Falls hydroelectricity project.

The Maritime Link was supposed to be fully operational by 2018 but has only transported minimal electricity to Nova Scotia because of a series of setbacks.

This report by The Canadian Press was first published Dec. 28, 2022.