Hydro Rates Going up 6.4 Percent
Customers in this province will be paying more for electricity.
The Newfoundland and Labrador Public Utilities Board approved an electricity rate change for customers, effective October 1, 2019.
For customers on the Island, most residential customers will see rates increase by approximately 0.8 cents/kilowatt hour (6.4%). This equals about $6.40 for every $100 on an electricity bill.
Labrador Customers on the interconnected system (Upper Lake Melville and Labrador West) would see electricity rates decrease by approximately 0.1 cents/kilowatt hour (3.1%) or a reduction of $3.10 for every $100 on an electricity bill. The average rate for these customers today is 3.1 cents/kilowatt hour. The proposed decrease is largely the result of increased customer usage and customer growth in the region.
It will also cost Newfoundland Power more to purchase electricity from NL Hydro.
Hydro says that final electricity rate changes may differ from the estimates provided.
It will be some time before customers see the increse on their bills.