Nova Scotia Power’s parent company said it needs to cut about $1 billion in costs to account for a new rate cap and earnings limits the provincial government imposed this week to control rising electricity bills. (CBC)

Talking point: The long-awaited Atlantic Loop would expand electrical grid connections between Quebec and New Brunswick as well as New Brunswick and Nova Scotia. It has been billed as a landmark project that would improve access to clean energy across Atlantic Canada. The federal government has highlighted the Atlantic Loop as important for reaching its commitment to achieve net-zero in the country’s electricity system by 2035, though Ottawa has not committed funding to the project, which was estimated to cost $5 billion. Emera CEO Scott Balfour did not give conditions for resuming the project and said the company would focus on “future growth and job creation” outside Nova Scotia.