Nova Scotia Power customers can expect to dig a little deeper into their pockets, if a general rate application filed by the company is approved.
The power company is asking for permission to hike rates by an average of 7.3 per cent. This would mean a 7.1 per cent increase for residential customers, or roughly eight dollars a month on average.
This company is asking the Utility and Review Board to grant the increase for January 1, 2012.
The utility says the increase is needed to cover the costs of fuel, improvements to the company's infrastructure and to recruit and retain skilled workers.
Smaller increases are forecast for 2013 and 2014, with Nova Scotia Power proposing a three-year plan that would limit price increases to four per cent per year for 2012-2014.
The province's regulator will hear the application in September.
Nova Scotia Power provides electricity generation, transmission and distribution services to almost 490,000 customers in the province.
