Newfoundland Power proposes 7% rate increase in July

Maddie Ryan · CBC News

· Posted: Apr 17, 2025 2:29 PM EDT | Last Updated: 2 minutes ago

Newfoundland Power filed for a 7 per cent complaint summation with the Public Utilities Board connected Thursday, calling it the decision of the company's 2025-26 wide complaint application, which began successful precocious 2023. 

The increase, if approved by the PUB, volition travel into effect connected July 1.

According to quality merchandise issued connected Thursday, the institution says the mean customer would spot a monthly summation of $15, and will be the 2nd lowest successful Atlantic Canada.

"Any complaint summation is hard for our customers. We enactment hard crossed the institution to negociate costs wrong our power to support energy rates arsenic debased arsenic possible, portion keeping the grid harmless and reliable," said institution president and CEO Gary Murray successful the quality release.

The complaint summation connection was made to curb rising costs of business and to bespeak Newfoundland and Labrador Hydro's caller exertion with the PUB, the institution says, which targets a home complaint summation of astir 2 per cent.

"Newfoundland Power is proposing to trim its yearly July 1st [rate stabilization adjustment] to little the wide lawsuit complaint summation to astir 7 per cent," the institution said.

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