N.L. to cut home heating costs

NEWFOUNDLAND & LABRADOR - People across Newfoundland and Labrador will receive an eight per cent rebate on electricity and heating fuel, according to the provincial 2011 budget.

The program is expected to cost the provincial government about $38 million annually — a loss the government says it can afford, as it announced a surplus of $485 million for the past fiscal year and is forecasting a $59-million surplus for the coming year.

"Oil prices are high and it appears that these prices are going to be sustained at high prices," said Finance Minister Tom Marshall. "So we felt it was time to give back."

The new rebate program will begin on October 1 — 10 days before the next provincial election — but Marshall deflected criticism that the budget aims to buy votes.

"It is an election year but I don't see any difference between this budget and the budgets I've done in the past," said Marshall, who delivered his fourth budget.

The rebate will apply to all residents using fuel and/or electricity to heat their homes.

After the announcement NDP Leader Lorraine Michael celebrated the home-heating rebate announcement.

"To quote another politician 'We got it'," said Michael, referring to what Danny Williams said after negotiating the Atlantic Accord deal with former Canadian Prime Minister Paul Martin.

Michael who had called for the rebate said the announcement shows the difference one lone voice house of assembly can make.

The new rebate will be in addition to the existing the current home heating rebate program for low-income individuals and families.

According to the government's plan, the savings will appear on bills consumers receive from oil and electricity companies and those companies will then invoice the province for the rebated amount.

Government officials said details of how it will work with those companies have not been hammered out yet.

The rebate is equal to the eight per cent provincial portion of HST on residential electricity and heat.

Related News

wind power in Nebraska

Why power companies should be investing in carbon-free electricity

SAN FRANCISCO - When utility executives make decisions about building new power plants, a lot rides on their choices. Depending on their size and type, new generating facilities cost hundreds of millions or even billions of dollars. They typically will run for 40 or more years — 10 U.S. presidential terms. Much can change during that time.

Today one of the biggest dilemmas that regulators and electricity industry planners face is predicting how strict future limits on greenhouse gas emissions will be. Future policies will affect the profitability of today’s investments. For example, if the United States adopts a carbon tax…

READ MORE
Coal-fired thermal power plant Detmarovice

Cabinet Of Ministers Of Ukraine - Prime Minister: Our Goal In The Energy Sector Is To Synchronize Ukraine's Integrated Power System With Entso-e

READ MORE

eu smart grid

EU Smart Meters Spur Growth in the Customer Analytics Market

READ MORE

lng storage tank

BC Hydro says three LNG companies continue to demand electricity, justifying Site C

READ MORE

schneider-electric-aids-in-notre-dame-restoration

Schneider Electric Aids in Notre Dame Restoration

READ MORE