Premier Houston dismisses Nova Scotia Power’s financial plan for retiring coal plants

Premier Tim Houston rejects Nova Scotia Power’s proposal to securitize coal plants, arguing it would save customers tens of millions of dollars. The company plans to issue bonds to retire the coal plants, with ratepayers paying the interest through a special charge on their bills. However, Houston doubts the claim that ratepayers will benefit, while experts argue securitization could lower the cost of repayment for ratepayers.