Nova Scotia Power Inc. wants an additional 3.2 per cent from its customers in the new year, primarily to pay for fuel used to generate electricity in the past two years.

The proposed increase on the power bill is called a fuel adjustment charge. The utility is applying to recover an additional $70 million for unpaid fuel costs in 2010 and 2011.

The utility has already asked for a 4.9 per cent increase in 2012 to pay for higher operating costs in the future.

"The three per cent in the filing today is about fuel that we have already bought, spent the money on and used to generate electricity over past two years," René Gallant, a company vice-president, told CBC News Thursday.

"We're not making any money over this rate increase. We're simply recovering the costs we've already spent."

In a statement accompanying its request to regulators on Thursday, NSP said the average residential customer would see bills rise by $9 per month, if both increases are approved.

Customers are paying more to make up for the loss of NSP's largest customer, the NewPage Port Hawkesbury paper mill.

Homeowners and small businesses will see the rate increase. Large industrial customers are facing an additional 5.9 per cent increase in their power cost.

A hearing will be held at the end of November to see if the Nova Scotia Utility and Review Board will approve the rate increase.