Nova Scotia Power Granted Adjournment of Fuel Adjustment Mechanism Hearing

    HALIFAX, June 15 /CNW/ - Nova Scotia Power has been granted an
adjournment of a hearing before the Nova Scotia Utility and Review Board
(UARB) regarding a proposed fuel adjustment mechanism (FAM). The hearing was
scheduled to begin Monday.
    Parties have been working constructively on the content and elements of a
FAM. Some issues remain outstanding and NSPI believes they can be better
addressed through further constructive dialogue among stakeholders.
    The UARB has set a tentative date of November 5, 2007 for the new
hearing, and agreed to Nova Scotia Power's request that the dialogue with
stakeholders be continued using a facilitator appointed by the regulator.
    Nova Scotia Power buys fuel to generate most of its electricity, and
world prices have been difficult to predict. A fuel adjustment mechanism is a
transparent way to adjust rates to reflect changing fuel prices. A FAM would
ensure that customer rates reflect actual fuel costs, no more and no less.

For further information:

For further information: Judy Steele, FCA, Director, Investor and
External Relations, (902) 428-6999

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