Nova Scotia's Premier, Tim Houston, issued a warning to Vivek Sood, the incoming CEO of NS Power, concerning the utility's reliance on rate hikes to manage its finances. Houston criticized the utility's practice of proposing rate increases, which he sees as indicative of an outdated business model. He urged the new leadership to pivot away from these strategies and find alternative solutions that do not burden customers with increased costs.

Houston's statement, made via social media, came just after NS Power announced Sood's appointment, bringing attention to the leadership change at a critical time. With current board member Sood set to replace outgoing CEO Peter Gregg, there are concerns that this transition could distract from the utility's ongoing struggles and its historical pattern of failing to provide reliable service without passing costs onto consumers. Currently, NS Power has sought an 8% increase in residential rates, highlighting the urgency for the new CEO to address the concerns raised by the provincial government.

The implications of this leadership change and the proposed rate increases extend beyond just the utility's financial health, impacting residents who depend on stable pricing for electricity. If the proposed increase is approved by the provincial energy board, consumers will face significant additional costs, a situation that Houston warns must be avoided. This scenario places pressure not only on the new CEO to implement significant changes but also on Houston's government to ensure that these utility practices do not continue unchecked, ensuring fair and equitable electricity costs for Nova Scotians.