HALIFAX - The cost of electricity in Nova Scotia will remain steady in 2015 for most Nova Scotia Power customers.

The utility confirms a planned increase in energy rates will be largely offset by the provincial government's decision to remove the Efficiency Nova Scotia charge from power bills as of Jan. 1.

As a result, the overall price of electricity for residential customers in 2015 will remain the same as it was in 2014.

For commercial and industrial customers, the impact varies by rate class with small businesses receiving a 4.5 per cent reduction.

All other classes will see either a freeze or a slight increase in rates.

Medium and large industrial customers will be paying 1.5 per cent more, as will large general customers.