Progress on Fuel Adjustment Mechanism - UARB Decision Gives Clear Direction on Implementation Process

    HALIFAX, Dec. 10 /CNW/ - Nova Scotia Power is encouraged by today's
decision from the Nova Scotia Utility and Review Board which establishes clear
direction for implementation of a fuel adjustment mechanism (FAM) effective
January 1, 2009.
    "The decision is consistent with the company's submission that such a
mechanism is the fairest and best way to ensure rates for customers reflect
the actual price of fuel used to make electricity," said Ralph Tedesco,
President & CEO of Nova Scotia Power.
    Regulatory oversight of fuel costs will continue under a fuel adjustment
mechanism. Nova Scotia Power will continue to work constructively and
collaboratively with stakeholders, to ensure the January 2009 implementation
of a fuel adjustment mechanism occurs as established in the UARB decision.

For further information:

For further information: Margaret Murphy, (902) 428-6436,

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Nova Scotia Power Inc.

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