Rates on the rock rise on Canada Day
Electricity bills for Newfoundlanders and Labradorians will increase five to six per cent on July 1.
The Newfoundland Labrador Board of Commissioners of Public Utilities approved Newfoundland Power and Newfoundland and Labrador HydroÂ’s application for an increase.
The companies say a higher than expected increase in the cost of Bunker C oil is the reason for the increase.
For the average island consumer without electric heat, their bill will go from $105.90 to $111.87, an increase of 5.6 per cent.
People with electric heat that use more power on average will see their bills will go up 6.1 per cent from $196.20 on average to $208.18.
People in isolate areas of the island will see a slightly smaller increase, and Labrador residentsÂ’ power rates will not change.
Related News
Parsing Ontario's electricity cost allocation
TORONTO - Ontario’s large commercial electricity customers can approach the looming annual decision about their billing structure for the 12 months beginning July 1 with the assurance of long-term relief on a portion of their costs. That’s to be weighed against uncertainties around energy demand and whether a locked-in cost allocation formula that looked favourable in pre-pandemic times will remain so until June 30, 2022.
“The biggest unknown is we just don’t know when the people are coming back,” Jon Douglas, director of sustainability with Menkes Property Management Services, reflected during a webinar sponsored by the Building Owners and Managers Association…
