Nova Scotia Power is now saying it doesn't need another rate increase.
The power company indicated earlier this month it needed more money.
But the private utility now says it doesn't, due in part to softening world coal prices.
Earlier this year, Nova Scotia Power received regulatory approval for a 3.3 per cent increase in domestic rates.
The company isn't ruling out another application for a rate increase for 2004, however.
Nova Scotia Power has 440,000 customers across the province.