DBRS: Nova Scotia Power unchanged

DBRS Inc. said that Nova Scotia Power Inc.'s A (low), R-1 (low) and Pfd-2 (low) ratings are not affected by the decision on its Base Cost of Fuel Reset and Fuel Forecast Standardized Filing for 2011 Fuel Adjustment Mechanism.

The fuel cost rate increase submitted by the company for 2011 was approved, but Nova Scotia Power will only be allowed to recover 50% of the increase in 2011, with the remainder deferred, DBRS said.

While the deferred amount is sizable, the company will recover all its fuel costs from its customers over the deferral period and, as such, the decision does not have a material impact on the current ratings, DBRS said.

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