Heritage Gas wants another rate hike
Company president Jim Bracken said they're not bringing in enough money through gas rates to cover development and operating costs.
He said the company has spent about $40 million more than it has recovered from customers, and that's slowing down plans to expand to areas that are demanding natural gas, like Pictou County.
Bracken said Heritage Gas will ask the Nova Scotia Utility and Review Board to approve a hike on the delivery portion of the bill.
"Even with the increases in delivery charges we will propose, natural gas retains its substantial cost advantage over other fuel sources," he said Monday in a speech to the Offshore/Onshore Technologies Association of Nova Scotia.
He said the typical residential Heritage Gas customer saved $830 a year compared to someone heating with oil.
Bracken did not say how much of a rate increase his company would seek from its 3,000 customers.
Rates went up nearly seven per cent in January.