The utility company is the power supplier for Canadian province Nova Scotia.

In addition, the company is asking the province’s Utility and Review Board to lower electricity rates by about 1% for municipalities that pay for streetlights, starting Jan. 1, 2016. However, tariffs will vary based on wattage.

A spokeswoman from NSP said the new rates were lower because the switch to LED lighting could be paid back in over 19 years.

The power company filed application for the approval of $36 million capital for the LED conversion will cover costs for retrofitting 43,000 conventional streetlights.

Municipalities own the remaining 40,000 streetlights or will be procuring them from the power company.

Majority of the municipally owned lights, about 29,000 in total, are in the Halifax Regional Municipality.

In 2012, the former New Democrat government passed a law that made LED streetlights mandatory.

NSP will need to finish installing LED streetlights by the end of 2019, while Municipalities have an additional three years, until the end of 2022.

The utility company has converted about 40% of streetlights to LED.