Power Rates Jump Today

It is October 1st and that mean as of today, electricity costs a lot more.

The Public Utilities Board had approved a rate increase of 6.4 percent for NL Hydro.

For customers on the island, the primary driver of the rate change is increasing fuel costs for the Holyrood generating plant.

Most residential customers on the island 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.

It will be a couple months before customers notice a difference on their bills.