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.
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German coalition backs electricity subsidy for industries
BERLIN - Germany’s three-party coalition is debating whether electricity prices for energy-intensive industries should be subsidised to prevent companies from moving production abroad.
Calls to reduce the electricity bill for big industrial producers are being made by leading politicians, who, like others in Germany, fear the country could lose its position as an industrial powerhouse as it gradually shifts away from fossil fuel-based production.
“It is in the interest of all of us that this strong industry, which we undoubtedly have in Germany, is preserved,” Lars Klingbeil, head of Germany’s leading government party SPD (S&D), told Bayrischer Rundfunk on Wednesday.
To achieve this,…
