Nova Scotia Power
 |
|
| Subsidiary | |
| Industry | Energy |
| Predecessor | Nova Scotia Power Commission, Nova Scotia Light and Power Company, Limited |
| Founded | 1972 (as Nova Scotia Power Corporation) |
| Headquarters | Halifax, Nova Scotia, Canada |
|
Area served
|
Nova Scotia |
|
Key people
|
Karen Hutt, President & CEO |
| Products | Electricity |
| Owner | Publicly traded (TSE, MSE) |
|
Number of employees
|
1700 (2013) |
| Parent | Emera |
| Website | www.nspower.ca |
Nova Scotia Power Inc. (: NSI.PR.D) is a vertically integrated electric utility in Nova Scotia, Canada. It is privately owned by Emera (: EMA) and regulated by the provincial government via the Nova Scotia Utility and Review Board (NSUARB). Nova Scotia Power Inc provides electricity to 500,000 residential, commercial and industrial customers in Nova Scotia.
The Nova Scotia Power Commission was formed in 1919 by the provincial government, following the lead of several other Canadian provinces in establishing Crown corporation electrical utilities. The commission constructed and opened its first hydro plant at Tantallon the following year. Throughout the 1920s-1960s, the commission grew as private and municipal owned hydro plants and electrical utilities went bankrupt or sold their assets. In 1960, Nova Scotia was connected to the New Brunswick Electric Power Commission in the first electrical inter-connection between provinces in Canada. The Nova Scotia Power Commission underwent unprecedented expansion during the late 1960s when five new thermal generating stations were constructed to meet the growing residential and industrial demand in the province.
On January 27, 1972, the Government of Nova Scotia acquired Nova Scotia Light and Power Company, Limited (NSLP), an investor-owned utility, leasing its assets to the renamed Nova Scotia Power Corporation (NSPC). In 1984, NSPC opened the world's first tidal power generating station on the Annapolis River at Annapolis Royal. This technology, similar to hydroelectric dams, did not become globally widespread. In 1992, NSPC was privatized by the provincial government of Premier Donald Cameron in what was then the largest private equity transaction in Canadian history. Cameron's government had been under heavy pressure to control provincial deficits and debt servicing thus the controversial decision to sell the Crown corporation. This privatization created Nova Scotia Power Incorporated (NSPI).
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