Fall River's name is derived from a stream running between Miller Lake and Lake Thomas which had a waterfall. These falls supplied water power for several mills during the 19th century as well as a local electrical utility during the early 20th century. The waterfall was demolished in the late 1950s as a result of the construction of the Bicentennial Highway leading to Halifax; the waterfall was located where the 4-lane expressway currently runs up the hill from the crossing of Lake Thomas to the interchange with Highway 118 at Miller Lake. Hydro-electric power is now generated by an underground tunnel that carries the water from Miller Lake which once flowed through this stream and down the waterfall. Turbines produce electricity for the main grid, during peak periods.