UARB Application - The Lowest Cost Option
November 29, 2013, the Nova Scotia Utility and Review Board (UARB) gave final
approval to the Maritime Link Project.
In January 2013, NSP Maritime Link Inc.
(NSPML) applied to the Nova Scotia Utility and Review Board (UARB) for approval
of the Maritime Link Project (view application). As part of the application,
NSPML sought UARB approval for the Project costs, which are estimated at $1.52
billion (with a variance of up to $60 million).
On November 21, 2013, NSPML filed the Maritime
Link Compliance Filing on market-priced energy with the UARB (Maritime Link Compliance Filing). The Compliance Filing provided the UARB with commercial
assurance that NS Power has the option to
access market-priced energy that Nalcor has available for export.
Best Option for Nova Scotia Customers
The Maritime Link is the best option for
Nova Scotia customers because it will create greater electricity market access in a
carbon-free, renewable, cost-predictable, and reliable way. It will help
transform Nova Scotia’s electricity sector and improve the province’s
environment for future generations, by cutting coal-fired emissions by one
million tonnes of carbon dioxide per year and reducing our reliance on imported
coal by almost 400,000 tonnes per year. It will contribute to the
ongoing development of other forms of renewable energy, including
wind and tidal power.
A decision on how Nova Scotia customers' rates will be determined will be part of a general rate application process with
the UARB, which is currently expected in 2017.