Coal phase-out deadline unchanged, Atlantic premiers seek compensation

The Council of Atlantic Premiers has asked for $5 billion in compensation as the phase-out of coal begins in multiple provinces, including four coal plants in Nova Scotia.

With the denial for an extension for the Belledune coal-fire plant, the Council of Atlantic Premiers has sent a letter requesting $5 billion in compensation for the transition and to help facilitate the Atlantic Loop.

The letter, signed by New Brunswick Premier Blaine Higgs, came after the province would not extend the equivalency agreement past 2024.

“As collectively the four provinces, if we’re all being pushed in this direction, then we want to get harmonized on our approach,” Higgs said when asked if this was an ultimatum.

New Brunswick and Nova Scotia will have to phase out coal by 2030, but Nova Scotia will be phasing out four coal-fired plants.

Higgs said the compensation is to ensure the phase-out doesn’t fall on the backs of New Brunswickers who will no doubt see power rate increases by 20 or 30 per cent.

The same is addressed in the letter.

“This effort requires the federal government’s willingness to provide financial support to ensure our citizens have access to clean and affordable energy and are not burdened by higher energy rates and increased energy poverty,” the letter reads.

That’s where the Atlantic Loop comes in. The loop is infrastructure that will facilitate green energy to New Brunswick, and the other Atlantic provinces, through Quebec and Ontario.