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Nova Scotia's Premier Tim Houston proposed the Offshore Renewable Energy Act, mandating offshore wind developers to pay $7,000 per megawatt annually for the first decade of operation. This is projected to generate $35 million yearly, reflecting the province's goal of reaching 5,000 MW in the initial phase.

After ten years, the fee may either remain or shift to a four percent gross revenue royalty, with potential annual earnings of $100 million at current rates. The first generation of offshore energy will be exported. This legislation is part of a wider energy strategy, which includes adjusting the management of the power grid and regulatory changes for geothermal, hydrogen, helium, and carbon storage sectors.