Just what Nova Scotia needs: a raft of new power executives with multi-million dollar salaries

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To the editor,

It's a safe bet you've never said to yourself "what this province needs is more high-paid energy executives!"

But if the experience of other states and provinces is any indication, that's just what Stephen McNeil and the Liberals' electricity deregulation plan could deliver.

A new report from the Texas Coalition for Affordable Power shows that energy company executive salaries in that state rose an average of 175% since deregulation, exceeding the average increase across the US.  Average salaries for heads of major energy companies rose from $2.7 million to $7.5 million.

Stephen McNeil plans to open up Nova Scotia's electricity market to any company who wants to come in and generate power, by whatever means they choose. Opening the market in Nova Scotia won't lower anyone's bill. In fact, everywhere it's been tried the result is the same: rates that skyrocket 30-50% or more. Meanwhile, you'll be paying for more head offices, more profits and more executives with outrageous salaries.

It's not fair that executives at Nova Scotia Power have had their bonuses and salaries paid for by ratepayers when there are families struggling to make ends meet. That's why the NDP government brought in a new law to remove bonuses and cap the amounts of executive salaries that can be charged to Nova Scotia ratepayers.

Nova Scotia families can't afford McNeil's expensive electricity experiment and 30-50% rate increases. To learn how Darrell Dexter and the NDP are fighting for the lowest, fairest energy rates for families and a clean energy future for Nova Scotia, visit lowestfairestrates.ca.

David Wallbridge

President, NS NDP

Organizations: Texas Coalition for Affordable Power, NDP, Nova Scotia Power

Geographic location: Nova Scotia, US

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Recent comments

  • Johnny smoke
    January 29, 2013 - 08:27

    When I look at the state of this provinces finances I shutter to think that this government or party would have the temerity to comment, quote, or produce any facts,or figures to bolster their arguments. Under the soulful watch of the N.D.P. our power rates have increased some 35%. Some of this money was shoveled to N.S.P.I. most went to pay for "green" energy, "green" being the catch word for "expensive"feed in taffiff to wind farm operators. The field is so lucrative that the operators of these facilities are falling all over one another to catch the brass ring. Competition is only bad in the eyes of those who have monopolies, N.S.P.I. is one, N.S.L.C. is another. Challenge their status or endanger their positions and all manner of false pronouncements will be forth coming. This country was built on competition. Please explain how such a comcept can now be contrary to the public good? It may be contrary to the good of those who protest. That in of it's self shows that it is in the best interest of those who foot the bill, not those who bring forward all of this bureaucratic bluster.

  • Bob in N.S.
    January 28, 2013 - 23:01

    It seems that David Wallbridge has questions about the provincial liberal plan to deregulate the power industry in Nova Scotia. Well I have some questions for the NDP who I mistakenly voted for in the last provincial election. First of all,why is our premier so happy to accept the muskrat falls deal with no competition in the mix? Next,why does it seem that premier Dexter is falling hook line and sinker for the line of bull that states rates will increase by less than 1% for the first five years and then decline for the remainder of the subsea links life. The power co. has already stated that this could change with ''wink-wink" unforseen expenses. Gee I wonder what that could mean? My last question is why do the rate payers need to pay for an upgrade of a private company? Seems to me that the shareholders should foot this bill,but that would go against company policy and for sure against our government's policy when they are dealing with their friends.