Starting in January, NL residents will get a 15 percent cut on their electricity bills. Premier Tony Wakeham made the announcement this morning saying Government is speeding up the Churchill Falls Electricity Rebate and people need more help with the rising cost of living and they need it now.
The rebate will mean about $351 in annual savings for an average household. As well, Wakeham says for households relying on furnace or stove oil, the Home Heating Supplement has now doubled from $500 to $1000.
Wakeham says for those who have already applied or have received their payments, there is no need to reapply. These initiatives are the first in a series of additional affordability measures, with more announcements planned in the coming days and weeks.
