UARB approved EfficiencyOne DSM Plan to lower electricity bills by nearly $540 million  

UARB approved EfficiencyOne DSM Plan to lower electricity bills by nearly $540 million  

For immediate release 
 

September 6, 2022 – Halifax/Kjipuktuk, NS – Today the Nova Scotia Utility and Review Board (UARB) approved EfficiencyOne’s 2023-2025 Demand Side Management Plan. The Plan will help Nova Scotians lower their electricity bills by reducing their energy use, while helping the province meet its net-zero commitments. 

“This is an important day for Nova Scotians,” says Stephen MacDonald, President and CEO of EfficiencyOne. “Overall, the Plan will lower electricity bills by nearly $540 million for Nova Scotia’s families and businesses, support 5,300 jobs across the province, and reduce greenhouse gas emissions by nearly 2 million tonnes.” 

EfficiencyOne, the non-profit administrator of Efficiency Nova Scotia, put forward its 3-year energy reduction plan – or Demand Side Management Plan – to the UARB for approval in March 2022. The approved Plan, which was widely supported by regulatory stakeholders, will come into effect on January 1, 2023. 

The plan sets ambitious targets that will help even more Nova Scotians save money and further contributes to the province’s net-zero commitments. 
“Increased investments in energy efficiency help residents and businesses, empowering them to reduce their electricity use and save money at a time when it’s very much needed,” says MacDonald.  

The Plan will deliver more Efficiency Nova Scotia programs to more Nova Scotians, with $35 million to help low-income Nova Scotians, including renters, live more comfortably in their homes; $7 million to help Mi’kmaw communities reduce electricity costs and improve comfort while supporting local job creation; and $20 million to help small businesses on their path to recovery. 

“Getting to net-zero has a cost, but investment in energy efficiency is the lowest cost option to help green our province, and the only option that reduces customer bills”, adds MacDonald, “and today the UARB made it clear that this level of investment in energy efficiency is in the best interest of ratepayers,”. 

“Over the past ten years, Nova Scotians have told us that reducing electricity demand is the best way to lower energy costs and reduce the impact of climate change,” says MacDonald. “We are focused on continuing to deliver results, and ultimately helping even more Nova Scotians.” 

Read more about the 2023-2025 Demand Side Management Plan here: https://www.efficiencyone.ca/2023-2025-demand-side-management-plan/  

Rate Impact 

The Plan will see energy efficiency investments increase from the current level of around $40 million a year to $57 million a year. The higher investment is more than offset by the savings ratepayers receive and helps offset other rate pressures by reducing overall energy use. 

EfficiencyOne estimates that the Plan could increase electricity bills by approximately $2 a month, starting in 2023, but customers will save far more – on average $5 a month. 

About EfficiencyOne 

EfficiencyOne, operating in Nova Scotia as Efficiency Nova Scotia, has a proven track record of success in designing and delivering resource efficiency programs and services for homes, businesses, and large industrial customers. To date, EfficiencyOne has achieved more than $1 billion in energy savings and contributed 24% of Nova Scotia’s GHG emission reductions in the last 10 years. Learn more at efficiencyone.ca 

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For more information, contact: 

Janet Tobin 
Communication Lead 
902-499-6494 
jtobin@efficiencyns.ca