NL Hydro wants rate hike

subscribe

Newfoundland and Labrador Hydro wants to hike its electricity rates this summer.

The company has applied to the provinces Public Utilities Board to raise rates for people across Newfoundland and most of Labrador starting in July.

Hydro is looking for an increase under the provinces rate stabilization plan. Its set up to smooth out price swings caused by fluctuating oil prices throughout the year.

The price of oil required for electricity generation at the Holyrood Thermal Generating Station is forecast to be higher than over the last 12 months, said Jim Haynes, Hydros vice president of regulated operations in a recent news release.

If Hydro gets its way, most of its customers will pay about two per cent more for electricity.

The Public Utilities Board is still considering Hydros application.

Related News

working at home during locakdown

Electricity demand set to reduce if UK workforce self-isolates

LONDON - National Grid ESO is predicting a reduction in electricity demand in the case of the coronavirus spread prompting a lockdown across the country.

Its analysis shows the reduction in commercial and industrial use would outweigh an upsurge in domestic demand.

The prediction was included in an update from the Energy Networks Association (ENA), in which it sought to reassure the public that contingency plans are in place to ensure services are unaffected by the coronavirus spread.

The body, which represents the UK's electricity and gas network companies, said "robust measures" had been put in place to protect control rooms and contact…

READ MORE
pg&e logo

PG&E’s Pandemic Response Includes Precautionary Health and Safety Actions; Moratorium on Customer Shutoffs for Nonpayment

READ MORE

clean electricity chart

Biden calls for 100 percent clean electricity by 2035. Here’s how far we have to go.

READ MORE

power lines

Nearly $1 Trillion in Investments Estimated by 2030 as Power Sector Transitions to a More Decarbonized and Flexible System

READ MORE

hydro dam

Hydropower Plants to Support Solar and Wind Energy

READ MORE