Power rates to increase on July 1

Electricity rates will increase for customers of Newfoundland Power and most customers of Newfoundland and Labrador Hydro by an average of 7 percent on July 1, 2025.

The customer rate increase of 7 percent reflects the Board’s direction that rate smoothing should be implemented so that rates increase more gradually, contributing to rate stability for customers while enabling the utilities to recover prudently incurred costs over a reasonable period of time.

In the absence of rate smoothing, the required customer rate increase on July 1, 2025, would have been over 15 percent.

The proposed rate increase was reviewed by the Public Utilities Board and its financial consultants in a process that involved the Consumer Advocate and Hydro.