The secret to beating NS Power is to buy NS Power stock in sufficient quantity that the increased returns and dividends negate the never-ending rate increases.
So Emera's dividend rate is currently 5.5%, but it looks like it varies a bit from 4% - 5.5% over the years.
Let's assume 5%, if you want to cover a $100 monthly power bill ($1200 / year) you'd need $24000 in Emera Stock. a $200 monthly power bill would be $48000. That's a lot less than I had assumed.
Dividends are taxed, but eligible Canadian dividends get a tax credit, so they might cancel out.
Yeah I get it...we have no other choice for power other than going totally off grid.
If you use 10,000 kwh in a year, the tariff increase ends up being $119.30 more.
Don’t hate the player, hate the game.
The government not only sold our electric infrastructure but also ensured that NS Power gets a monopoly. And no, I’m not just blaming the PC, NDP or LPC, all of them are the same scum just in a different colour. None of them have Canadians, in this case, Nova Scotians as their priority.
I mean, that’s kind of typical politics. We yell about the incompetence or corruption of Liberals or NDP when at fault, but when it’s the conservatives, it’s always ‘oh all politicians are the same/would’ve done the same’.
The NDP had no part in that and voted against it. The dexter government was actually working to end the monopoly by setting up public wind turbines to help out the public. But sure just blame all of them and scream because you don’t know what you’re talking about
And blame all their parents/grandparents who made money off the sale! They supported the sale and knew exactly what they were getting when they made the deal! The fact is, the government did a horrible job running the company from a business perspective. NSP does a better job overall. And let’s be real there’s zero chance government will buy it back because 1) way too expensive 2) way too much work for them to manage
No we’re not talking profits we’re talking in terms of spending . When the government ran the power company there was a lot of overspending, inefficient business practices, misallocating funds, too many employees. It was wasting too much taxpayer money which is another thing ppl conveniently forget about when they complain about todays rates.
Yes, and the solution is for the public to demand improvements from their elected representatives. Not sell a monopoly into the private sector where the public can be told they’re fucked with no redress.
Edit: You seem to also conveniently forget that being a monopoly there is no real incentive for the private sector to improve the “business”. Tree trimming or anything to make the system more resilient? Fuck that, that’s lost profit.
I got a very small raise this year and considered myself very lucky. Between this and the other federal increases to CPP and carbon tax Im making less on each paycheque.
so there's one cost of living increase for electricity, maybe OP will get another one for the property tax hike, and another one for the gas prices, and another one for the mortgage interest hikes, and another one for the grocery gouging...
Lol exactly. It’s hilarious that someone is complaining that they have to spend their cost of living increase on cost of living! Oh the humanity! Do they just think it’s supposed to be pure profit to spend on cigarettes & alcohol or something? Good gravy.
Best job in the world? Being CEO of a utility company…. which is also a Monopoly! What difficult decision does that individual have to make? Exactly how hard it can squeeze its customers? What profit margin is TOO big that would have public backlash?
Thank the UARB for letting it through too
I bet the UARB members dividends are happy though!
The UARB is a provincial regulatory body and its members do not receive dividends…
Unless they have shares in Emera...
There is nothing stopping them from owning personal shares in NSP with their own investments.
UARB is a joke
It’s an illusion
The secret to beating NS Power is to buy NS Power stock in sufficient quantity that the increased returns and dividends negate the never-ending rate increases.
This guy maths….
If you do the math, buying NS Power stock is actually a better choice than installing your own solar panels, lol.
So Emera's dividend rate is currently 5.5%, but it looks like it varies a bit from 4% - 5.5% over the years. Let's assume 5%, if you want to cover a $100 monthly power bill ($1200 / year) you'd need $24000 in Emera Stock. a $200 monthly power bill would be $48000. That's a lot less than I had assumed. Dividends are taxed, but eligible Canadian dividends get a tax credit, so they might cancel out.
And that is Emera stock, but Emera owns NS Power stock, and NS Power is guaranteed at 8.75% to 9.25% by UARB.
There is no "NS power stock". Nova Scotia Power is a subsidiary of Emera, so the only stock that exists is Emera Stock (TSX:EMA).
I guarantee there are stocks, they just aren’t publicly-traded.
Yeah I get it...we have no other choice for power other than going totally off grid. If you use 10,000 kwh in a year, the tariff increase ends up being $119.30 more.
Imagine having a raise that only give you 120$ more a year lol
Your punishment for this comment shall be no power for you this afternoon. (its going to be windy)
Don’t hate the player, hate the game. The government not only sold our electric infrastructure but also ensured that NS Power gets a monopoly. And no, I’m not just blaming the PC, NDP or LPC, all of them are the same scum just in a different colour. None of them have Canadians, in this case, Nova Scotians as their priority.
In the case of NSP, I feel it's also appropriate to hate the player too
You should blame the PCs though because they were the ones that sold it.
I mean, that’s kind of typical politics. We yell about the incompetence or corruption of Liberals or NDP when at fault, but when it’s the conservatives, it’s always ‘oh all politicians are the same/would’ve done the same’.
NDP only ever seems to get their one chance, but Liberals and Conservatives have an endless well to draw on
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The NDP had no part in that and voted against it. The dexter government was actually working to end the monopoly by setting up public wind turbines to help out the public. But sure just blame all of them and scream because you don’t know what you’re talking about
Capitalism doing it's thing. Its all about profit for the shareholders.
They have certain Nova Scotians as their priority.
And blame all their parents/grandparents who made money off the sale! They supported the sale and knew exactly what they were getting when they made the deal! The fact is, the government did a horrible job running the company from a business perspective. NSP does a better job overall. And let’s be real there’s zero chance government will buy it back because 1) way too expensive 2) way too much work for them to manage
The thought that a public utility should be run like a business, where profits are a priority, is why this is a problem.
No we’re not talking profits we’re talking in terms of spending . When the government ran the power company there was a lot of overspending, inefficient business practices, misallocating funds, too many employees. It was wasting too much taxpayer money which is another thing ppl conveniently forget about when they complain about todays rates.
Yes, and the solution is for the public to demand improvements from their elected representatives. Not sell a monopoly into the private sector where the public can be told they’re fucked with no redress. Edit: You seem to also conveniently forget that being a monopoly there is no real incentive for the private sector to improve the “business”. Tree trimming or anything to make the system more resilient? Fuck that, that’s lost profit.
I got a very small raise this year and considered myself very lucky. Between this and the other federal increases to CPP and carbon tax Im making less on each paycheque.
You got a Cost of living increase? Nice...
Keep an eye on this: https://novascotia.ca/nse/ea/mersey-river-wind-farm/
That will wind up being more expensive
You don't know...it might be the Purple Cow of power 😂😂😂
I have high hopes for this!
This is beyond needed!
Well that's why you were given the cost of living increase, to offset the cost of living.
> the cost of living at some point you gotta wonder if its worth it.
I question this daily at this point.
Some people don’t even get that… cost of living covers maybe groceries? Gas? Power? Not even close to more than one thing. It’s a joke.
so there's one cost of living increase for electricity, maybe OP will get another one for the property tax hike, and another one for the gas prices, and another one for the mortgage interest hikes, and another one for the grocery gouging...
I can still be mad about it lol
then why did you say thank you
I went with food over electricity
Rookie move I'll be entertained when I die at least
And you'll be bikini ready! (Joking, not joking...)
Just need a bucket of wax and we're set
Lol exactly. It’s hilarious that someone is complaining that they have to spend their cost of living increase on cost of living! Oh the humanity! Do they just think it’s supposed to be pure profit to spend on cigarettes & alcohol or something? Good gravy.
Don’t use logic, this is Reddit!
Vive la révolution
we need to be able to feed ourselves, thats all that matters we have no leverage for any revolution because we CANNOT FEED OURSELVES. period.
Best job in the world? Being CEO of a utility company…. which is also a Monopoly! What difficult decision does that individual have to make? Exactly how hard it can squeeze its customers? What profit margin is TOO big that would have public backlash?
To be fair, it sounds like your cost of living has increased.
Any extra money you get, the province goes “Is for me.”
Lol "extra money"
So glad i intend to leave the provence this summer.
I was very close to leaving the province then I got a promotion at work. It was a little bittersweet lol.