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Less than two months
- On the heels of the Newfoundland and Labrador government finalizing its plans to keep power rates stable, Newfoundland Power says electricity bills are set to jump in less than two months.
www.cbc.ca/news/canada/newfoundland-labrador/despite-cap-electricity-bills-are-poised-to-jump-10-5-on-july-1-says-newfoundland-power-1.7207820Despite cap, electricity bills are poised to jump 10.5% on ...
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May 17, 2024 · On the heels of the Newfoundland and Labrador government finalizing its plans to keep power rates stable, Newfoundland Power says electricity bills are set to jump in less than two...
May 17, 2024 · The provincial government has laid out its plan to prevent power bills from almost doubling due to costs associated with the Muskrat Falls project. The crux of the rate mitigation plan involves capping annual increases at 2.25 per cent until 2030. That means a monthly power bill of $300 would increase to about $307, instead of roughly $500 ...
- Brian Callahan
Newfoundland Power will make a separate rate application for July 1 reflecting updates to its Rate Stabilization Clause and Municipal Tax Adjustment. As a result of the two applications, most rates are anticipated to increase on average 6.9%, effective July 1, 2023.
Jan 31, 2024 · Newfoundland and Labrador's Public Utilities Board says power rates in the province could increase more than rates proposed by Newfoundland Power over the next two years.
Current Electricity Rates. Effective August 1, 2024, there was an overall average increase of 7.0% in customer electricity rates. This rate increase is the result of a 4.7% increase reflecting recovery of higher power supply costs already paid by Newfoundland Power to Newfoundland and Labrador Hydro (Hydro) in 2023 and a 2.3% increase by Hydro ...
May 16, 2024 · As a result of the implementation of the Provincial Government’s rate mitigation plan, on an average monthly bill of $300, customers will pay $307 a month in July 2024 compared to $500 a month without the rate mitigation plan; $193 less per month or $2,300 during the period of July 2024 to June 2025.
May 16, 2024 · The province has finalized its rate mitigation plan that will cap NL Hydro’s domestic residential rate increases from the repayment of the cost of Muskrat Falls to 2.25 per cent annually. The plan only applies to island customers who are paying for the project, and comes into effect on July 1.
