Bill 209: Electric Utility Estimated Billing Interest Act

This bill directly affects Nova Scotia Power and any other regulated electric utility operating in Nova Scotia — essentially businesses in the electricity transmission and distribution sector. On a day-to-day basis, these utilities will need to update their billing systems to automatically track consecutive estimated billing periods, calculate and credit compounding interest on overestimated amounts, and clearly disclose estimated billing status on every customer invoice. They cannot wait for customers to ask for the interest — it must be applied automatically. Utilities will also face audits and oversight from the Nova Scotia Energy Board, meaning back-office compliance and reporting work increases. While the direct obligation falls on the utility, any business that receives electric service in Nova Scotia and has been billed on estimates could benefit from automatic interest credits on overpayments.