Nova Scotia Power and a number of industry stakeholders have reached a deal and it’s going to give a jolt to power bills.

Customers can expect to see a three per cent increase in each of the next two years.

“Its one thing after another,” says one Halifax resident. “Like the price of gas and food and everything else. How do they expect us to live?”

The first increase is scheduled for Jan. 1, 2013.

The settlement should stop rate increases in future years to recover costs that have been deferred.

“All of these things should be examined in the full light of day,” says Nova Scotia Conservative Leader Jamie Baillie. “Who knows what trading happened behind closed doors that will affect our power bills?”

“We’ll now actually see an additional, over six per cent, and we’ll see even more later on, which will mean that we will remain the highest power rates in Canada,” says Nova Scotia Liberal energy critic Andrew Younger.

The deal is the result of bargaining outside the Utility and Review Board hearing room. The hearings will resume Tuesday and Young says his party plans to contest the proposed settlement then.

While customers and critics alike were heard grumbling about the increase, there was a silver lining in today’s hearings.

Nova Scotia Power has agreed to work with the Affordable Energy Coalition to help low-income customers deal with rising electricity rates.

“Our commitment here is to work with the Affordable Energy Coalition and others, and fine tune our procedures and be supportive if there is something that can be done, that can help from a policy perspective,” says Nova Scotia Power CEO Rob Bennett.

The plan is to develop a low-income customer charter that would change policies on bill payments, late payment interest charges, collections and disconnections.

Consumer advocate John Merrick says he would like to see an experienced Nova Scotia Power employee, paid by the utility, to act as an ombudsman for customers with financial problems.

“What we’re trying to do is establish a contact point within the company of somebody who’s trained, sensitive to the issues of low-income consumers, talks their language, knows how to use the company systems, and knows how to get that power turned back on again with the least hassle to that consumer,” says Merrick.

Mel Boutilier, founder of the Parker Street Food and Furniture Bank in Halifax, says he has a hard time counting all the people who are asking the organization for help with their power bills.

He says he welcomes any discussion that could help low-income earners.

“I think it’s 150 that are waiting for help,” he says. “We’re dealing with people on a daily basis who are struggling to pay their bills and who are depressed and they break down and cry.”

If the parties fail to reach an agreement, there will be another hearing to deal with low-income customer issues by June 2013.

With files from CTV Atlantic's Felicia Yap