Draft Canada-Nova Scotia Equivalency Agreement for Coal-Fired Electricity released

New coal-fired electricity regulations, released by the federal government on September 12, would have meant the premature closure of Nova Scotia’s eight coal-fired plants in Trenton, Lingan, Point Tupper and Point Aconi, at a cost of up to $1.3 billion to the province’s ratepayers. Instead, Nova Scotia has negotiated an option that will avoid a hit to Nova Scotia families that, according to the province, would have been equivalent to $3450 per household. The draft Canada-Nova Scotia Equivalency Agreement for Coal-Fired Electricity released on September 14, will ensure that the province will reduce greenhouse gas emissions using its own regulatory approach instead of Canada’s new coal-fired electricity regulations. The same greenhouse gas target will be achieved but at a much lower cost. Nova Scotia is the only jurisdiction in North America with hard caps on greenhouse gas emissions for electricity providers, reducing 25 per cent of greenhouse gases in the electricity sector by 2020. With the additional greenhouse gas reductions up to 2030 as required by the equivalency agreement, Nova Scotia will cut emissions by more than half. Nova Scotia can now reach 30 per cent of its power from renewables on a windy day — more than double what it was in 2009. “Nova Scotia is making great strides, but we still have work to do to achieve the legislated target of 40 per cent,” said Energy Minister Charlie Parker. “Wind, tidal, biomass and hydroelectricity from Lower Churchill must all be a part of that mix.”