Return Nova Scotia Power to democratic public ownership
This petition had 430 supporters
Power to the People - Return Nova Scotia Power to democratic public ownership!
Nova Scotia Power was privatized in 1992 for a small fraction of what it was worth. Given a private monoply, the company has raked in record profits - off taxpayer’s power bills. Ever since, Nova Scotia Power has raked in over $2 billion in profits, often taking the money out of province, and giving it to their executives as bonuses.
Last year the CEO of Emera, NSP’s parent company, received $4.7 million in compensation, a 54% increase from the previous year. In 2012, the president of NSP “earned” a 25% increase in his salary, jumping to $1.1 million. This, in a province with the second lowest average income in the country.
Despite these massive profits, NSP is dragging its feet on green energy and sustainability. After privatization, NSP downgraded its energy conservation programs, and still generates 59% of the province's electricity from coal imported from Colombia.
Today, Nova Scotians pay some of the highest costs for electricity in the country; Nova Scotia Power is dragging its feet on developing new green energy; the power goes out every time the wind blows, and rates are rising once again.
Right now, Nova Scotia Power as a private corporation only has one mandate: profit.
Public ownership is the way to move forward– to create a democratically-run power utility with mandates set by the people, such as:
investment in green energy and green jobs,
consistency of service,
an inability to shut off your power without notice in the middle of winter, and
rates that are based on the cost of power instead of the demands of shareholders.
It’s time for change!
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