Newfoundland utility files application to finance capital investments
“Significant capital investment is critical to ensuring a safe and reliable electricity system for the people of this province,” said Rob Henderson, Vice President, Newfoundland and Labrador Hydro. “The additional funds will help finance the required refurbishment and maintenance of the existing electrical system and will also help finance recently announced projects including the 100MW combustion turbine generator, the third transmission line from Bay d’ Espoir to Western Ava lon and the new transmission line in Labrador West – all to benefit the overall electricity system and service to customers.”
Newfoundland and Labrador Hydro has not required any long-term debt since 2006. This is a favourable time for Hydro to return to the market, as interest rates for long-term debt are very attractive relative to historical levels.
The project costs and associated financing has already been incorporated into all long-term rate projections.
From 2009 to 2013, HydroÂ’s annual capital programs averaged $66 million per year and focused largely on planned maintenance and the rehabilitation of existing assets. However, for 2014, capital investments will increase nearly fourfold to $264 million.
“Our increased investment in the system has been anticipated for some time,” explained Henderson. “As our electrical system ages, like other utilities in North America, continued capital investment in maintenance and replacement is required to provide the service our customers expect.”
Related News

Sunrun and Tesla Unveil Texas Power Plant
TEXAS - In a significant development for renewable energy and grid resilience, Sunrun and Tesla have announced a groundbreaking partnership to establish a distributed power plant in Texas. This collaboration represents a major step forward in harnessing solar energy and battery storage to create a more reliable and sustainable power system. The initiative aims to address the growing demand for clean energy solutions while enhancing grid stability and resilience in one of the largest and most energy-dependent states in the U.S.
The new distributed power plant, a joint venture between Sunrun, a leading residential solar provider, and Tesla, renowned for…