Consider salaries during power rate hearings: premier
Compensation for Nova Scotia Power, Emera bosses totals $2.7 million
Last Updated: Tuesday, April 3, 2007 | 12:48 PM AT
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Premier Rodney MacDonald says provincial regulators should consider the salaries of top executives next time Nova Scotia Power is looking for an increase in electricity rates.
The two people who run the utility made $2.7 million last year.
Nova Scotia Power president Ralph Tedesco made $1.1 million, while Chris Huskilson, president of Emera, the utility's parent company, earned $1.6 million in salary, bonuses and stock options.
Those numbers appear excessive, MacDonald said Tuesday.
"Average Nova Scotians take a look at salaries like that and understandably say those salaries are simply too high," he told reporters.
However, he added, Nova Scotia Power is a private company and the salaries "are what they are."
MacDonald said he's not sure what the impact would be on rates if those salaries and perks were considered during a rate application.
The Nova Scotia Utility and Review Board approved Nova Scotia Power's latest request for a rate hike in February. When the new rates take effect in April, it will mark the fourth increase in five years.
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